Greenspan Criticizes Securitization, Credit Rating Agencies

  • 03 Oct 2007
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Former Federal Reserve Chairman Alan Greenspan said the increased rate of default among subprime borrowers was not a fault of the loans, but due “to the securitization of subprime,” reports the Associated Press. “Subprime mortgages were and are risky, but they are worth it,” Greenspan said.

Greenspan also criticized the credit rating agencies and defended central banks and market regulators for performance during the recent credit crisis. “We are not skilled enough in these areas and we shouldn't be expected to,” he said. “It should be with the states’ attorney general and, frankly, it should be beefed up a considerable amount from where it is at this stage,” he said.

Click here to read the story from the Associated Press on Google

  • 03 Oct 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,250.27 279 13.13%
2 Bank of America Merrill Lynch 91,648.43 266 12.13%
3 Wells Fargo Securities 72,661.39 222 9.61%
4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%