Financial Weapons Of Mass Destruction Are Back

Tuesday, May 21, 2013
By Paul Martin

Jeff Cox, NetNet
May 21, 2013

What Warren Buffett once called “financial weapons of mass destruction” are firing again, with securitization and shadow banking at post-financial crisis highs.

The twin powers of bank funding that helped propel the nation into turmoil have regained ground swiftly, and analysts say it’s both a challenge for regulators and a sign that the economy is recovering.

Securitization, or the channels through which banks repackage loans and farm them off to investors, has hit volume of $225.6 billion by way of 365 deals this year, according to Dealogic.

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