9.3-2 The other one word I want to say to you, are you still listening? Just about. Disaggregation.
Update: 2021-08-01
Description
In part two of aggregation-disaggregation, we return to the story of CDOs and how risk that was supposed to disseminate ended up in the hands of a few. From there we talk about how regulators responded, switching to a centralised control model. The upshot is disaggregation as banks interpret dictates. We see similar challenges when governments switch away from values-based rhetoric to excessive rule-making.
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