Reaching the Bottom of the Barrel – How the Securitization of Subprime Mortgages Ultimately Backfired
In the last decade, Wall Street used the process of securitization to revolutionize the financing of home mortgages, making credit available to millions of borrowers with less-than-stellar credit. But the failure to properly assess the credit risk associated with these loans led to well over $100 billion in losses at Wall Street firms. Who will be held responsible? View full article (PDF).