Leverhulme Lecture: The Future of Securitization

Authors

Steven L. Schwarcz, Duke Law SchoolFollow

Document Type

Article

Publication Date

2010

Keywords

financial markets, regulation

Abstract

Lecture given November 11, 2010, the third of three delivered by Prof. Schwarcz as Leverhulme Visiting Professor of Law, Oxford University.

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.

Citation

Leverhulme Lecture: The Future of Securitization (November 11, 2010) Video, audio and full text available at: http://www.law.ox.ac.uk/published/leverhulme2010.php