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In the wake of the credit crunch, structured finance is linked to bailed-out
investment banks and overpaid executives rather than the innovative financial
solutions it continues to provide. The initial response from the financial
markets was a move back to basics, to plain vanilla transactions.
Furthermore, many structured finance instruments, such as securitization,
derivatives and other structured products, are facing intense regulatory and
political scrutiny. These pressures notwithstanding, the potential of
structured finance will play an important part in facilitating the road to
recovery. This book explains why.
This book serves three purposes.
First it continues the analysis of structured finance, and in this sense
complements and updates the popular and highly acclaimed first edition of this
Securitization Law and Practice in the Face of the Credit Crunch), with
plenty of focus on derivatives.
Second, the key milestones of the credit crunch are discussed with a focus on
their potential impact for the expected flow of litigation by aggrieved
investors against the perceived deep pockets of arrangers and rating agencies
around the world.
The third purpose is to illustrate ways in which the untapped potential of
structured finance may well facilitate the road to recovery.