{"product_id":"prudent-lending-restored-securitization-after-the-mortgage-meltdown-paperback","title":"Prudent Lending Restored: Securitization After the Mortgage Meltdown - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eYasuyuki Fuchita\u003c\/b\u003e (Editor), \u003cb\u003eRichard J. Herring\u003c\/b\u003e (Editor), \u003cb\u003eRobert E. Litan\u003c\/b\u003e (Editor)\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eThere is little dispute that the mortgage meltdown of 2007, created by irresponsible lending and lax oversight, helped lead to the global financial crisis. Why were these securities backed by subprime debt so desirable to so many seemingly sophisticated investors? The answer lies in distorted incentives, opaque securitization structures and a willingness to believe that house prices would continue to rise indefinitely and the hope for super-normal returns. In \u003ci\u003ePrudent Lending Restored\u003c\/i\u003e experts from the United States, Europe, and Japan draw a timeline of key events along the road to our most recent recession. Providing an in-depth analysis of the causes of the subprime mortgage meltdown, they propose reforms, including a more simplified securitization process with emphasis on oversight to encourage more prudent lending. This timely volume--the collaboration between the Brookings Institution and the Nomura Institute of Capital Markets Research--argues that securitization can and should have a brighter future, and they lay out ways that will make that possible.\u003cbr\u003eContributors: Jennifer E. Bethel (Babson College), Robert E. Eisenbeis (Federal Reserve Bank of Atlanta), Allen Ferrell (Havard Law School), Günter Franke (Konstanz University, Germany), Jack Guttentag (University of Pennsylvania), Gang Hu (Babson College), Tetsuya Kamiyama (Nomura Institute of Capital Markets Research, Tokyo), Kei Kodachi (NICMR), Jan P. Krahnen (Goethe University Frankfurt, Germany), Joseph R. Mason (Louisiana State University), Igor Roitburg (Default Mitigation Management LLC), and Eiichi Sekine (NICMR).\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cb\u003eYasuyuki Fuchita\u003c\/b\u003e is senior managing director at the Nomura Institute of Capital Markets Research in Tokyo. He is coeditor, with Robert Litan, of \u003ci\u003ePooling Money\u003c\/i\u003e (Brookings, 2008) and \u003ci\u003eNew Financial Instruments and Institutions\u003c\/i\u003e (Brookings, 2007).\u003cb\u003eRichard J. Herring\u003c\/b\u003e is the Jacob Safra Professor of International Banking and professor of finance at the Wharton School, University of Pennsylvania, where he is also codirector of the Wharton Financial Institutions Center.\u003cb\u003eRobert E. Litan\u003c\/b\u003e is a senior fellow in Economic Studies at the Brookings Institution and vice president for research and policy at the Kauffman Foundation. Among his books is \u003ci\u003eGood Capitalism, Bad Capitalism, and the Economics of Growth Prosperity\u003c\/i\u003e (Yale, 2007), written with William J. Baumol and Carl J. Schramm.\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 336\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 1 x 8.8 x 5.9 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e August 24, 2009\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":53193161572659,"sku":"9780815703365","price":78.91,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0300\/5595\/6612\/files\/Rjh9e38MZ99780815703365.webp?v=1775109307","url":"https:\/\/www.vysn.com\/en-ca\/products\/prudent-lending-restored-securitization-after-the-mortgage-meltdown-paperback","provider":"VYSN","version":"1.0","type":"link"}