MIKE WOOTTON
MIKE WOOTTON

SHORT-TERMISM in economic terms is an excessive focus on the need for quick returns at the expense of long-term interests. The financial crisis of 2007-2009 could be blamed on short-termism; examples of short-term policies include the trading of subprime mortgages, derivatives and credit default swaps regardless of their real underlying value, and the ability to get the risks underwritten.

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