Tuesday, October 28, 2008

Whither Securitization?

If "securitization" of mortgage debt had become such an indispensable instrument of construction finance, you may be wondering whether anything will be built in the future. Housing starts in France have plummeted 23 percent. But here is a discussion of further "innovations" in financial innovation. The watchwords seem to be "transparency" and "simplicity," to which we are to return from opacity and complexity.

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