The current financial crisis "will affect market structure and pricing for at least a decade," according to a new report from JPMorgan Securities Ltd., London. The report from JPMorgan's global asset allocation and alternative investments unit blames excessive credit risk taking in "housing, leverage, and maturity transformation" for the crisis. It predicts, among other things, that central banks' extension of liquidity to broker-dealers will be permanent and lead to regulation in that area.
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