Please Answer ASAP

Question 3 Collateralised Debt Obligations (a) Assume you are a bank that engages in securitisation of your assets. Why are they considered as a creative solution to hedging credit risk? In your answer explain the process of securitisation and how it is used to hedge credit risk. (250 words) (5 marks) (b) CDOs have been heavily blamed to have exacerbated the Global Financial Crisis of 2008-09. What are the consequences of these products, to market participants, the economy and society at large? (250 words) (5 marks) (Total marks: 5+5=10)