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&lt;p&gt;The ongoing effects of the nationwide credit crisis continue to plague the economy and the average home buyer alike. Banks and other subprime mortgage lenders, feeling the effects most acutely, have responded by filing for bankruptcy, slashing headcount, or, in some cases, closing shop. Some banks have come up with solutions to help alleviate the problem in the short term, like the Master Liquidity Enhancement Conduit (or M-LEC), to help spread the balance sheet losses over a long period, but this manipulation won&#39;t shelter them from the long-term effects.&lt;p&gt; &lt;p&gt;Enter BearingPoint. The consulting firm has decided to tackle the problem from a strategic angle, in an attempt to stifle the long-term effects of the credit crunch and to avoid similar situations in the future. The firm devised a toolkit that allows lenders to evaluate and manage their risks, and includes a dashboard mechanism that alerts lenders to issues that may be out of their comfort zone. The solution, BP Managing Director Lowell Alcorn remarks, &quot;allows lenders to stay ahead of the game&quot; and will help prevent future lawsuits.&lt;p&gt; &lt;p&gt;While few consulting firms have gotten involved in the management of the mortgage crisis up to this point, BearingPoint has certainly set a positive example in demonstrating that consultants, armed with analytical and creative problem-solving skills, can be an important part of the solution. &lt;p&gt;

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BP to the rescue

The ongoing effects of the nationwide credit crisis continue to plague the economy and the average home buyer alike. Banks and other subprime mortgage lenders, feeling the effects most acutely, have responded by filing for bankruptcy, slashing headcount, or, in some cases, closing shop.

BP to the rescue | Career Advice - Vault

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