This paper reviews the structure of Collateralized Debt Obligations (CDOs), financial products used in the period of the 2008 sub-prime mortgage crisis, in order to understand the reasons that lead them to be considered the main responsible for it. The legacy of CDOs, which is reflected in Bespoke Tranche Opportunities (BTOs), is then discussed in order to understand whether they are equally “toxic“ products, as CDOs were defined after the outbreak of the crisis, or they are really innovative tool of securitization.
CDO su misura: la nuova era delle cartolarizzazioni / Bruno, Maria Giuseppina; Semerari, Luca; Scarpitti, Maria Rita. - In: ANNALI DEL DIPARTIMENTO DI METODI E MODELLI PER L'ECONOMIA, IL TERRITORIO E LA FINANZA ..... - ISSN 2385-0825. - (2024). [10.13133/2611-6634/1596]
CDO su misura: la nuova era delle cartolarizzazioni
Maria Giuseppina Bruno
;Luca Semerari;Maria Rita Scarpitti
2024
Abstract
This paper reviews the structure of Collateralized Debt Obligations (CDOs), financial products used in the period of the 2008 sub-prime mortgage crisis, in order to understand the reasons that lead them to be considered the main responsible for it. The legacy of CDOs, which is reflected in Bespoke Tranche Opportunities (BTOs), is then discussed in order to understand whether they are equally “toxic“ products, as CDOs were defined after the outbreak of the crisis, or they are really innovative tool of securitization.| File | Dimensione | Formato | |
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