Developments in the US mortgage market
For over a year now, we have been writing a post to show that the American crisis did not result from titration We then argued that the crisis has been postponed and amplified by securitization, but that the latter is not the cause. The term financial crisis is misleading. The financial sphere is only showing elements of crisis that find their explanations out of it, it recapitulates them without being the seat of crises. Thus, when the securitization of mortgage…