NEW YORK CITY—In his most recent post, Ethan Penner looks at the history of securitzation and how the death of the Glass-Steagall and the Investment Banks are undercutting the health of the capital markets.

Securitization had a revolutionary impact on the world of finance, Penner reminds. So much so that it began a shift away from Savings & Loans and Savings Banks in the 1980s. In fact, says Penner, the big winners were the Investment Banks that were able to capitalize on securitization in a way that more traditional banks, hampered by Glass-Steagall, could not.


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