Greenspan Criticizes Securitization, Credit Rating Agencies

  • 03 Oct 2007
Email a colleague
Request a PDF

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 Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%