Despite Crisis, Securities Lending Looks Unstoppable
Wed, Sep 30, 2009
Larry MacDonald submits:
Having ranted before on securities lending and how it adds to the systemic risk of the financial system and how the division of the spoils appears to shortchange retail investors, there is a modicum of satisfaction in seeing the U.S. Securities Exchange Commission (SEC) commence an investigation into the practice. Yet the industry continues to gather steam and take on the characteristics of an unstoppable train.
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