Credit where it's due By Stewart Eisenhart

The ongoing impact of the global credit crisis spawned by the burst of the US housing bubble cannot be overstated. Write-downs in the billions of dollars at Citigroup, Merrill Lynch, Bear Stearns and other financial powerhouses dominate financial headlines now, overshadowing the first wave of casualties last year - quantitatively driven investment managers. Banks, both global and regional, will also more likely see their mortgage-backed exposures come back to haunt them - not undeservedly,

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