Symposium speakers map route from profits to peril

CHAMPAIGN – A system that promised "unimaginable personal wealth" to investment bankers has left the world "teetering on the brink of what may be a severe recession," a U.S. bankruptcy judge says.

Speaking at the University of Illinois College of Law on Friday, Judge Thomas Perkins of Peoria said nonbank lenders, investment bankers and credit rating agencies are all to blame for the mortgage mess that resulted in a global credit crunch.

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