Securitization is considered to be one of the biggest financial innovations of the last century. It is also regarded as … credit markets, aspects of the global securitization market are now struggling to revive. In this paper, I discuss the role … that ethics played in securitization prior to the 2008 financial crisis and find that it is not an obvious story of moral …

This paper examines the financial stability implications arising from securitization markets, with one eye on the past … industry developments in the years before the crisis. Emphasis is placed on the various ways in which securitization markets … securitization markets are then discussed, including a treatment of various regulatory initiatives, the operational infrastructure of …

view of incentives that change as a consequence of securitization and contagion processes. It provides a critical analysis … of banking and the role of securitization in it. The former focuses on its impact on the traditional model of commercial … banking, whereas the latter sees the role of securitization in the emergence of a parallel banking system (shadow banking …