Abstract

http://ssrn.com/abstract=1996670
 


 



What is Securitization? And for What Purpose?


Steven L. Schwarcz


Duke University - School of Law

January 7, 2013

Southern California Law Review, Vol. 85, No. 5, 2012

Abstract:     
In Re: Defining Securitization, Professor Jonathan Lipson attempts to define a “true” securitization transaction. My article engages Lipson’s, exploring how securitization should be legally defined. As a starting point, even a normative approach to defining a financial concept should be pragmatic, taking into account how the concept is used in the real world. The definition also should take into account dynamically changing financial markets and, in what I call an audience-adaptive approach, the different perspectives of policymakers and lawmakers, market participants and their lawyers, regulators and judges, and other members of the “audience” affected by the definition.

Number of Pages in PDF File: 17

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Date posted: February 3, 2012 ; Last revised: January 10, 2013

Suggested Citation

Schwarcz, Steven L., What is Securitization? And for What Purpose? (January 7, 2013). Southern California Law Review, Vol. 85, No. 5, 2012. Available at SSRN: http://ssrn.com/abstract=1996670

Contact Information

Steven L. Schwarcz (Contact Author)
Duke University - School of Law ( email )
Box 90360
Duke School of Law
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)
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