Detailed text transcripts for TV channel - CNN - 20100502:14:20:00
Firm in jeopardy. think of some of the big institutions that failed when the housing market slumped. why did that happen? they were accumulating massive and massive amounts of risk related to the housing market. when the housing market failed, they had to suddenly take the losses of billions of dollars and tens of billions of dollars. that not only hurt their own firm, that cast a very big risk on the system because as those institutions failed, they threatened other institutions as well. so, the buying and selling and hedging aksivity is a part of our risk management system. >> and you don't ...
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