The financial news has been dominated recently by stories of financial institutions that have mis-measured the risk as part of the subprime mortgage crisis. Discuss the role of risk assessment and measurement in the subprime crises and provide exs of both good and bad decisions that financial institutions made before the reform measures were adopted as part of the Dobb-Frank Bill.
Please support answer with a minimum of three quality academic and/or industry references. Ex: exs of acceptable references include:
The Financial Times
The Wall Street Journal
The Journal of Finance
Harvard Business Review