Federal Deposit Insurance Corporation

ABS Disclosure Debate Is a Whale of a Red Herring 

One of the reasons I write for HousingWire is to bring the data-based insights of asset-backed research into the public babelogue over the causes and cures of the financial crisis. A chore I thought was needful, as it appears to me—from media coverage, loads of testimony delivered to Congress, and pontifications of elected representatives and government officials—that everyone blames securitization in whole or part, but few are circulating facts. By and large, they haven’t got a clue.