Audit Interview: John Ryan : CJR: "The issues related to the unsustainable nature of this housing bubble, the sort of practices that it bred, how the role of Wall Street changed incentives and how the industry itself wasn’t sustainable — these weren’t secrets. ...
"there were significant risks here that were recognized back in the mid 90’s by all sorts of players and debated here in Washington, in terms of the risk of these complex financial instruments and the lack of transparency of the markets in which they were originated and traded."
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