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The subprime crisis also reflects an information crisis.
This crisis confirms that information on financial risks is, at best scarce, at worst misleading, because of the off-balance sheet and the securitization which allows a bursting of the risk.
Indeed, securitized receivables are broken down and then broken down into a multitude of complex products, so that no bank is able to accurately assess its degree of risk exposure. The off-balance sheet thus conceals a fragmented and fragmented risk that affects all players on the world markets.
Better financial governance therefore involves defining standards allowing real traceability of financial risk, to determine the magnitude of the risk and its location.
After the subprime crisis in 2008, the crypto-currency crisis is looming in 2022. Maître DAMY is an expert in economic and tax issues related to crypto-currencies.
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Maître Grégory DAMY, lawyer at the bar of Nice. Bank right.
