Policy makers, financial practitioners and investors will be both intrigued and enlightened about potential remedies for what began as a financial crisis in North America in August 2007 that developed into a global economic meltdown.

Readers will be treated to a thoughtful historical account that leads up to the Subprime Lending Crisis that was triggered by the rapid innovation in asset securitization technology which Mr. Nechemia argues is the root cause of contemporary financial market development of the past three decades. Mr. Nechemia traces the success of Asset Securitization back to its introduction in the early 70s and how, "this financial instrument and the various permutations it morphed into during a more than 30-year period enabled the unprecedented growth of capital and financial markets in both the United States and abroad."

Asset Securitization: Revolution, Evolution, Devolution. The Rise and Fall of the Most Important Financial Instrument in Banking


Published Date: April 5, 2009
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Subject: Asset Securitization: Revolution, Evolution, Devolution. The Rise and Fall of the Most Important Financial Instrument in Banking,