Thu 14 Oct 2020
Securitization and Desecuritization
Observing the development of the U.S. capital market over the last twenty-five years, we note the trend towards securitization of debt and contractual financial obligations. Thirty years ago, Americans were likely to put their savings in a savings institution, accepting what was essentially a non-securitized obligation of a bank in return (a deposit slip or savings […]