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Irresponsible lending led to subprime woes: Parekh
Deepak Parekh could not have come out of hiding at a better time amidst global subprime volatility and overheated real estate markets in major parts of the world.He believes that we are just starting to see the effects of irresponsible lending by the American financial system, but it is not a collapse and while the Indian equity markets are impacted the banking system here is intact.
