Saturday, May 19, 2007
Securitisation, innovation in finance, and the best use of the FM's and the PM's time
I wrote a piece in Business Standard titled Go to the root cause. I'm very happy that legislative changes are being made to support securitisation [link]. But what we really need to shoot for is a deeper change in financial law, so that innovations in products, market design and business processes do not require modifications to law or regulations. The latter idea is drawn from the MIFC book.