The Big Interview: Joseph Mason
The man who predicted the recent subprime CDO crisis has some harsh words to say about the way the structured credit market has been allowed to evolve. He talks to Dalia Fahmy
Everyone who was caught off-guard by this year's subprime CDO turmoil should have paid better attention to Joseph Mason. A full eight months ago, the Drexel University finance professor, and Joshua Rosner, a financial analyst at Graham & Fisher, published a paper outlining how lack of transparency in collateralised debt obligations, combined with deteriorating mortgage lending standards, could lead to a broad market collapse.
Entitled How Resilient Are Mortgage-Backed Securities to Collateralized
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