The securitization and structured credit markets have become critically important to the global ca markets, and thereby also to the world economies. The absence of well-functioning securiti markets negatively impacts consumers, banks, issuers and investors, resulting in lower econo activity and fewer than needed new jobs being created in the future. The price of credit is likely to be higher for the consumer and the availability scarcer. Banks will no longer have a tool to reduce risk and diversify their financing sources to free up capital for other activities. Investors will encounter rising difficulty in gaining exposure to an asset class that has become a significant part of their port- mic folios. 8. Explain why "securitization and structured credit markets have become critically important to the global capital markets, and thereby also to the world economies." Explain why the "price of credit is likely to be higher for the consumer and the avail- ability scarcer." 9. 10. For banks, explain why they "will no longer have a tool to reduce risk and diversify their financing sources to free up capital for other activities