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Global financial crisis: The 'culprits'
February 18, 2009
Kathleen Corbet
Kathleen Corbet served as president at Standard & Poor's. She was held responsible for giving top AAA rating to collateralised debt obligations (CDOs).
Collateralized debt obligations are a type of asset-backed security and structured credit product. CDOs have become an important funding vehicle for fixed-income assets.
Image: The Standard & Poor's headquarters is seen in New York. | Photograph: Shannon Stapleton/Reuters
Also read: 'Real estate price will fall further'
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