Securitization: Don't Miss This Article

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I appreciate the attention that Daniel Indiviglio gave to my article on the future of mortgage securitization.  However, I want to point out that another article on that topic in the same issue of FinReg21 is at least as worth reading.  It is by Gerald Hanweck, Anthony B. Sanders, and Robert Van Order, and they argue for an approach to regulating old-fashioned lenders and securitizers on a level playing field.  Among other recommendations, they favor stress tests to establish capital requirements.

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Arnold Kling

Arnold Kling earned his Ph.D in economics at MIT. He was an economist on the staff of the Federal Reserve Board. From 1986-1994 he worked at Freddie Mac. He started Homefair.com in 1994 and sold it in 1999. His fourth book, From Poverty to Prosperity, co-authored with Nick Schulz, is due out in April of 2009. He blogs regularly at Econlog.
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