Chapter 51
Securitization and Structured Finance
Outline
Third-Party Credit Enhancement
Reduction of Information Asymmetry
The Economics of Securitization
Absent Overinvestment, Unsecured Creditors Are Not Harmed
Potential Abuses of Securitization
Abuses Relating to the Recent Financial Crisis
Originate-to-Distribute Model and Moral Hazard
Securitization – or, as it is spelled in Europe, securitisation – refers to a category ...
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