In 1996, as that decade's bull market began to paw and snort, a Latin American specialist, Professor John C. Edmunds, published an article that built a brassy trumpet into its very title: "Securities: The New World Wealth Machine." Widely discussed, the article's underlying theme was that wealthy could be increased without creating or manufacturing anything save for paper that rearranged and added value and marketability to new and existing loan agreements. There was a deeper social and legal logic in Peru or Bangladesh, but in the English-speaking nations, "securitization" tapped an established penchant for paper entrepreneurialism. Edmunds never made another such splash, but the securitization of assets, just getting started, spread like wildfire, especially in the United States.
This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.