Anyone who has been involved in home loan finance knows that prudence was sent on her way a long time ago. US sub-prime losses of $50bn pale into insignificance compared with the global losses that have arisen from the sub-prime collapse. For corporate treasurers, life has become distinctly uncomfortable, as many of their Libor-linked loans were due to roll over. But the crisis has provided treasurers with an opportunity for some sensible housekeeping.
