15. When describing the response of European regulators to the abuses attributable to securitization that caused the
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15. When describing the response of European regulators to the abuses attributable to securitization that caused the financial crisis, Steven Schwarcz wrote: “To avoid a recurrence of the allegedly flawed originate-to-distribute model, the originator or sponsor must retain an unhedged material net economic interest in the securitization of at least 5%.”11 What does this mean?
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Foundations Of Global Financial Markets And Institutions
ISBN: 9780262039543
5th Edition
Authors: Frank J. Fabozzi, Frank J. Jones, Francesco A. Fabozzi, Steven V. Mann
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