Getting the House in Order

Financial institution boards will face many issues associated with the current financial crisis, including issues related to the Emergency Economic Stabilization Act of 2008 (EESA), the recently-passed stimulus program, Obama's foreclosure prevention program, and whatever else comes out of the Administration and Congress. Many—perhaps most—decisions will require an understanding of the mortgage-backed securities (MBS) that played such a central role in the deterioration of our largest financial institutions.

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