The 2007 meltdown in structured securitization : searching for lessons, not scapegoats (English)

The intensity of recent turbulence in financial markets has surprised nearly everyone. This paper searches out the root causes of the crisis, distinguishing them from scapegoating explanations that have been used in policy circles to divert attention from the underlying breakdown of incentives. Incentive conflicts explain how securitization went wrong, why credit ratings proved so inaccurate, and why it is superficial to blame the crisis on mark-to-market...

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Author

Caprio, Gerard, Jr.;

Demirguc-Kunt,Asli;

Kane,Edward J.;
Document Date
2008/11/01
Document Type
Policy Research Working Paper
Report Number
WPS4756
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2010/07/01
Disclosure Status
Disclosed
Doc Name
The 2007 meltdown in structured securitization : searching for lessons, not scapegoats
Keywords
Finance & Private Sector

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Citation

Caprio, Gerard, Jr.; Demirguc-Kunt,Asli; Kane,Edward J..

The 2007 meltdown in structured securitization : searching for lessons, not scapegoats (English). Policy Research working paper ; no. WPS 4756 Washington, DC: World Bank. http://documents.worldbank.org/curated/en/722911468147318348

The 2007 meltdown in structured securitization : searching for lessons, not scapegoats (English)

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