Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Prudent Lending Restored: Securitization After the Mortgage Meltdown

Prudent Lending Restored: Securitization After the Mortgage Meltdown

Fuchita, Yasuyuki
Herring, Richard J.
Litan, Robert E.

Paperback

Investing & Finance

ISBN10: 0815703368
ISBN13: 9780815703365
Publisher: Brookings Institution Press
Published: Aug 24 2009
Pages: 336
Weight: 1.00
Height: 1.00 Width: 5.90 Depth: 8.80
Language: English

There is little dispute that the mortgage meltdown of 2007, created by irresponsible lending and lax oversight, helped lead to the global financial crisis. Why were these securities backed by subprime debt so desirable to so many seemingly sophisticated investors? The answer lies in distorted incentives, opaque securitization structures and a willingness to believe that house prices would continue to rise indefinitely and the hope for super-normal returns. In Prudent Lending Restored experts from the United States, Europe, and Japan draw a timeline of key events along the road to our most recent recession. Providing an in-depth analysis of the causes of the subprime mortgage meltdown, they propose reforms, including a more simplified securitization process with emphasis on oversight to encourage more prudent lending. This timely volume--the collaboration between the Brookings Institution and the Nomura Institute of Capital Markets Research--argues that securitization can and should have a brighter future, and they lay out ways that will make that possible.

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