In this Lecture, Professor Schwarcz examines how complex securitization transactions may have created a “protection gap,” the conundrum that transaction parties may be unable to purchase or might not want to pay the price for full protection. As a result, they sometimes choose or are forced to assume the good faith of the other parties to the transaction and the consistency and completeness of protections provided in the transaction documents.
Steven L. Schwarcz, The Roberta Mitchell Lecture: Structuring Responsibility in Securitization Transactions, 40 Capital University Law Review 803-819 (2012)
Library of Congress Subject Headings
Corporations, Mortgage-backed securities, Foreclosure, Asset-based financing, Financial crises