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For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
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Securitization is a tool and only part of why the markets collapsed. The reduction of the problem to securitization fails to recognize the bad loans and ineffective ratings given to collateralized securities, and the hidden tranches not disclosed to investors.
If your mortgage/loan market isn't fraudulent then you don't have underlying assets with impossibly high risk. If the ratings agencies properly rate securities then investors know what the risk is. And if the government regulates the issuance of these securities through prospectuses (which they do now) then investors will know what's in them.
It also assumes that businesses won't do anything they think they can get away with if they think it will make a buck. Given just how many times that has happened, saying regulators will catch any attempts to sidestep those rules is fairly optimistic, in my opinion.
It's the opposite. Regulation assumes business will do anything they think they can get away with if it will make a buck. A lack of regulation assumes companies won't do those things.
People think "regulators" allowed this to happen, but actually as "regulators" are agencies established by the government that act upon law. At the time of the 2008 financial crash there were limited or few laws (i.e. regulations) on derivatives. It's law makers that refused to act.
It seems people are largely unaware of the myriad of regulatory changes that came after 2008 and bernie that applied to derivatives and customer/investor protection in general.
The same set of factors that created 2008 is no longer applicable as the environment has changed. There will surely be new regulatory weaknesses that need to be addressed
Everyone should meet someone that worked in the mortgage industry pre 2008. The number of things that were not only allowed, but perfectly legal were absurd.