The Mortgage Mess

The Mortgage Mess

Much of the criticism aimed at Wall Street at the time of the financial crisis and since has been related to its role in the mortgage industry. Creating and trading in securities consisting of groups of mortgages had become a major profit center for banks. It was in no small part the critique of thi...

Ausführliche Beschreibung

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Bibliographische Detailangaben
1. Verfasser: Waxman, Andrew
Format: Buchkapitel
Sprache:eng
Schlagworte:
asset quality
CDOs
collateral
Mortgage
securitization
subprime loans
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Beschreibung
Zusammenfassung:Much of the criticism aimed at Wall Street at the time of the financial crisis and since has been related to its role in the mortgage industry. Creating and trading in securities consisting of groups of mortgages had become a major profit center for banks. It was in no small part the critique of this particular activity that led to the Volcker rule and the proposal to ban proprietary trading for investment banks.
DOI:10.1002/9781119380184.ch6