A Global Body and a Global Problem: The Curious Case of the G-20 and Securities Regulation

摘要

The global financial crisis of 2008 demonstrated the need for an urgent and comprehensive revision of financial market products, instruments and players. The root of the crisis stemmed from mortgage lending in the United States: a lot of loans were given out to borrowers with questionable credit histories. A number of these risky loans were pooled together to become securities and were sold as such to investors worldwide. The securitization of these mortgages was meant to spread the risk at the moment.