D.N. Ghosh (for Info only, not official)

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D.N. Ghosh

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    ...In this, the developing countries expect financial institutions to act aggressively as well as responsibly.The global financial structure, as it is evolving, is a technological marvel.Assets originating at the base are securitized, packaged in different forms for sale to investors all across the globe.These assets, if infected with a high probability of default, will always carry the germs of a systemic crisis.The lending agencies therefore have an enormous responsibility; while a high-growth economy offers opportunities for profits, lenders need to be (despite insistent pressures from powerful borrowers and politicians) extremely cautious and desist from taking on high-risk assets.A good example in this regard is the subprime crisis in the US during the decade just gone by. ...

    Live Mint on Sept. 22, 2016, 10:59 p.m.