Dodd-Frank Wall Street Reform Act, securitization, financial crisis, special-purpose vehicles, SPVs, special-purpose entities, SPEs
Banking and Finance | Law | Securities Law
Securitization has been called into question because of its role in the recent financial crisis. Schwarcz examines the potential flaws in the securitization process and compare how the Dodd–Frank Act treats them. Although Dodd–Frank addresses one of the flaws, it underregulates or fails to regulate other flaws. It also overregulates by addressing aspects of securitization that are not flawed.
Steven L. Schwarcz, The 2011 Diane Sanger Memorial Lecture: Protecting Investors in Securitization Transactions: Does Dodd-Frank Help, or Hurt?, 72 Louisiana Law Review 591-603 (2012)