Random thought: the documents behind “securitization”

How well did the drafters of complex securitization documentation do?

“The documents were almost comically incomprehensible, frequently ambiguous, and occasionally produced the wrong numbers.”

Howard Darmstadter, Precision’s Counterfeit: The Failure of Complex Documents, and Some Suggested Remedies, 66 The Business Lawyer 61, 61 (Nov. 2010).

Leave a Reply

Your email address will not be published. Required fields are marked *