Don't Stop Spending

The credit crunch of 2007 has led to a decline in value of structured products like credit derivatives. “These products had been highly leveraged by hedge funds and investment banks, which had to pledge additional collateral,” according to TowerGroup. “Large write-offs ensued at many financial institutions, and [those] taken by brokerage firms have impacted both the U.S. and overseas markets,” reads TowerGroup’s latest report–Credit Crunch Opportunity: IT Spending Imperative in a Time of Crisis.