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TFR Class Twelve -- Securitization of Financial Assets After the Dodd-Frank Act
In today's class, we will continue our discussion of the securitization of financial assets, completing our discussing of materials assigned for Class Twelve and then turning to two additional readings. The first new reading is an article on Regulation Bubbles. Please read Parts I and II of the article, focusing in on the new Dodd Frank Act risk retention rules. As you read through these sections consider the extent to which the authors differ with the views expressed in the Michael Simkovic articles assigned as background reading in Class Twelve. The second reading for today's class explores Dodd-Frank Act reforms wiht respect to credit rating agencies. As you read over this paper, consider whether you think it wise that Congress limited the extent to which regulatory authorities can rely on credit ratings in the future. Finally, as time permits, we may take up two research projects of current students: one on the seuciritization of residential mortgages today and the second on litigation against credit rating agencies.
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