Credit Crunch!

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Damned if you do, damned if you don’t: The questions surrounding the purpose of credit research just won’t go away. Senior investment bankers, it seems, are getting more and more frustrated with the problems it can cause. Credit analysts need not fear for their jobs just yet, but it can’t be long before at least one major bank throws in the towel.

One example of the problems that now surround credit research recently came to my attention, and it crystallises the reasons for the sou

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