The banks were not taking risks. They were making risks and profiting from them. Or another way of looking at it is that with their superior knowledge they were neither taking nor making risks; instead they were creating the illusion of risk when the outcome was virtually certain. Securitization as practiced by Wall Street and […]

Tags: CERTIFICATES, common law trust, foreclosures, Master Servicer, Merril Lynch, Moody's, Mortgage Loan Schedule, Pooling and Servicing Agreement, Prospectus, REMIC, Rent-A-Name, securitization, stable managed fund, trust, Underwriter, US BANK
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