Leverhulme Lecture: The Future of Securitization

19 Pages Posted: 11 Nov 2010 Last revised: 28 Dec 2014

Steven L. Schwarcz

Duke University School of Law

Date Written: November 11, 2010

Abstract

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.

Suggested Citation

Schwarcz, Steven L., Leverhulme Lecture: The Future of Securitization (November 11, 2010). Available at SSRN: https://ssrn.com/abstract=1707053 or http://dx.doi.org/10.2139/ssrn.1707053

Steven L. Schwarcz (Contact Author)

Duke University School of Law ( email )

210 Science Drive
Box 90362
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)

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