Billions off the balance sheet, and it's legal?

bhodgman@comcast.net — Sun, 23 Mar 2008 13:45:52 +0100

There's an article in the Sunday New York Times about how the current mortgage debt crisis in the U.S. financial system came about (http://www.nytimes.com/2008/03/23/business/23how.html?ref=business&pagewanted=all)

There are calls for new regulations and changes to the Federal Reserve/SEC mission, but one passage in particular struck me:

"Among the topics they discussedwere investment vehicles that allowed Citigroup and other banks to keep billions of dollars in poten [...]

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Billions off the balance sheet, and it's legal?