This list is far from exhaustive, but I chose these three because they are among the most important, and because efforts are now under way – in both the public and private sectors – to address them. Causes of the turbulence Recent events represent an overdue repricing of risk; the direction of which was predicted by many and desired by some.
1 However, the speed and virulence of the repricing has illustrated the adage "Be careful what you wish for." While the repricing was triggered by significantly higher-than-expected defaults in U.S. subprime mortgages, we should all recognize that the trigger could have come from a wide range of sources.