Subprime crash has tarred all structured products

The subprime crisis has led to all securitised products being sold at a discount, regardless of whether they hold bad debt, says Guy Debelle, the assistant governor responsible for financial markets at the Reserve Bank of Australia.

"Recent developments have generated a large amount of investor scepticism about securitised products. A lemons problem has arisen where all securitised products are being sold, albeit to varying degrees, at a discount because investors have become concerned about the

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