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At a Richmond Fed credit symposium, a call goes out for sound underwriting and for regulation to be in place during boom timesnot after.
At the end of the day, it was the banks' responsibility to use the firepower they gained from the 1990s going forward without shooting themselves. They bet their companies, and they lost.
When clients average 9% a year, it's easy to pay a 1% fee. When they lose money, those fees become harder to stomach. Here's a four-part action plan for reestablishing your worth and protecting clients from further damage.
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