"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades
"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald
"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden
"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints
Friday, May 27, 2011
Wednesday, May 25, 2011
Before the crisis, securitisation was hailed as a major improvement to the functioning of financial markets. By allowing risk to be held more widely and banks’ balance sheets to be more liquid, securitisation had increased the supply of credit and was thought to have improved financial stability (Duffie 2007).