StrategyDriven Editorial Perspective – Good Intentions, Bad Results: Learning from the Panic of 1826
Strategy Driven
MARCH 6, 2014
While rates and terms varied, it was not unusual for post notes to trade at yields of 2 percent per month or more, compared to banks that were lending at yields of five percent per year, Professor Hilt’s research found. Needless to say, these products were very profitable as long as default rates were low.
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