Leverhulme Lecture: The Future of Securitization
Steven L. Schwarcz
Duke University - School of Law
November 11, 2010
The securitization of subprime mortgage loans is widely viewed as a root cause of the financial crisis. This lecture balances the costs and benefits of securitization, focusing on what went wrong and on what needs to be fixed to curtail securitization's abuses and make it viable again as an important financing tool. Finally, the lecture examines alternatives to securitization, focusing on covered bonds and comparing and contrasting covered bonds and securitization.
Number of Pages in PDF File: 19working papers series
Date posted: November 11, 2010 ; Last revised: December 28, 2014
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