Building success in the US


Last month the US Federal Reserve Board said that oversight of the country's subprime mortgage market should not feature excessive regulation. The Fed is adamant that it does not want to "impede the progress of responsible subprime lenders" despite the well-documented problems the sector has faced this year. A lesser-reported news item, however, is the development of a property derivatives market in the US and expectations that property-linked structured products will enjoy considerable retail

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