And Morgan Stanley wants it. The city of Chicago is on the cusp of signing a contract to let a Morgan Stanley-backed consortium collect money from its parking meters for the next 75 years. I’d love to make a quip about how the flailing bank must be really desperate for new sources of funding, but, [...]
Arnold Kling, riffing on something I wrote the other day about the end of investment banking as we’ve known it, writes: I think of securitization as like the dead parrot in the famous Monty Python sketch. Trying to rescue it or revive it strikes me as madness. I keep saying that we need to revert [...]
