theoretical models and a survey of institutions involved in securitization. With the conclusions of this analysis we evaluate the …

that banks used this form of securitization to concentrate, rather than disperse, financial risks in the banking sector …

regulatory reform. The analysis ascribes the crisis not only to problems in subprime mortgage lending and securitization, but … and securitization, focusing on problems of security design and governance, and lack of external discipline from rating …. Among systemic flaws, the paper discusses governance problems in mortgage origination and securitization as well as banking …