In the current pantomime of financial regulatory turmoil, the villain of the piece is easily cast – securitisation. Even the relative obscurity of the word has added to its perceived villainy. A difficult word to pronounce for the uninitiated, it has been booed and hissed at by politicians of all sides. The Turner Review, published on 18 March, firmly places securitisation – at least in its more complex forms – at the heart of the current banking crisis. Does it deserve its reputation?
Current criticisms
