Provocative Paper on Legality of Securitization

AUTHOR: MICHAEL NWOGUGU, Certified Public Accountant (Maryland, USA); B.Arch. (City College Of New York). MBA (Columbia University). Attended Suffolk Law School (Boston, USA). Address: P. O. Box 170002, Brooklyn, NY 11217, USA. Phone/Fax: 1-718-638- 6270. Email: datagh@peoplepc.com; mcn111@juno.com.

EDITOR’S NOTE: RECOMMENDED READING — Securitization_is_Illegal

ISSUES ADDRESSED

• Whether securitization is legal.

• Whether securitization causes usury.

• The standards for usurious loans/forbearance.

• The specific components of cost-of-capital, for purposes of assessing usury
  violations.

• Antitrust liability in securitization transactions.

• Federal/state RICO liability in securitization transactions.

• The constitutionality of securitization transactions.

• The validity of contracts used in effecting securitization transactions.

• Whether securitization usurps the purposes of the US bankruptcy code.

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