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You don't need to be a Chief Risk Officer to know that a huge low yield long-term bond is a liability in a high interest rate environment. Clearly they thought
by epvgwwqe 4y ago
You don't need to be a Chief Risk Officer to know that a huge low yield long-term bond is a liability in a high interest rate environment. Clearly they thought the party would never end.
- 331c8c71 4y agoIt's like banking 101. Assuming the CEO was not aware is unfathomable. Degree in business, started as a loan officer in the 90s. I guess he's just assumed that the problem was not necessarily fatal and was effectively betting on it. Very easy to imagine - moose in the headlights type of reaction.