Recent developments in US subprime
The International Monetary Fund has published a working paper called "Money for Nothing and Checks for Free: Recent Developments in US Subprime Mortgage Markets."
The paper reviews the history and structure of the subprime market.
The results suggest that new origination and funding technology appear to have made the financial system more stable at the expense of undermining the effectiveness of consumer protection regulation. The paper explores solutions to the management of this trade-off.
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