[PDF] Conceptualizing Power In Dynamics Of Securitization eBook

Author : Regina Kreide
Publisher :
Page : 400 pages
File Size : 14,95 MB
Release : 2019
Category : Balance of power
ISBN : 9783848751587

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This volume addresses the 'question of power' in current constructivist securitisation studies. How can power relations that affect security and insecurity be analysed from both a transdisciplinary and historical point of view? The volume brings together contributions from history, art history, political science, sociology, cultural anthropology and law in order to determine the role of conceptions of power in securitisation studies, which has tended to be dealt with implicitly thus far. Using conceptual theoretical essays and historical case studies that cover the period from the 16th to the 21st century, this book portrays the dominant paradigms of critical security studies, which mostly stem from the field of international relations and see the state as a major focal point in securitisation, in a new light.

Author : Charles Austin Stone
Publisher : John Wiley & Sons
Page : 469 pages
File Size : 35,15 MB
Release : 2012-09-25
Category : Business & Economics
ISBN : 1118006747

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A comprehensive guide to the continuously evolving world of securitization The Second Edition of The Securitization Markets Handbook is a valuable resource for both experienced money managers trying to put a securitization strategy into place as well as newcomers looking to acquire a broad and strong foundation in this discipline. This edition takes a close look at the pre- and post-crash mortgage market and the mortgage-backed securities based on those mortgages, as well as other asset-backed securities including commercial paper or credit cards. The crash of the subprime market and the failure of the asset-backed markets offer an opportunity to learn about banking finance, specifically off-balance sheet finance, and the many costly mistakes that resulted in one of the most severe downturns in financial markets. With this book, you'll discover why certain mortgage and asset-backed securities imploded and others didn't. This new edition examines why the market failed and how the next crisis can be averted or made less severe. It also explains why securitization remains a primary source of capital for the mortgage market, credit card market, home equity market, auto loan market, and segments of the commercial paper market. Offers an informed overview of how the securitization market works, how to make money in it, and what's next for asset- and mortgage-backed securities after the crisis Contains new chapters on CDOs and SIVs, along with a history of the growth and crash of the subprime market, asset-backed securities, and home equity lines of credit Written by securitization experts Charles Stone and Anne Zissu Updated to reflect the current market environment, the Second Edition of The Securitization Markets Handbook offers clear, comprehensive guidance to these complex markets.

Author : Leon T. Kendall
Publisher : MIT Press
Page : 200 pages
File Size : 37,79 MB
Release : 2000
Category : Business & Economics
ISBN : 9780262611633

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A Primer on Securitization introduces readers to America's newest system of raising capital: what it is, how it operates, and what difference securitization makes. Gathering fourteen lectures by the pioneers of securitization and by current practitioners--from Freddie Mac, Paine Webber, JP Morgan, Chrysler, McKinsey & Co, and other major players-- A Primer on Securitization introduces readers to America's newest system of raising capital: what it is, how it operates, and what difference securitization makes.The securitization process bypasses financial intermediaries that have historically collected deposits and loaned them to those seeking funds, and links borrowers directly to money and capital markets. Although little has been written about what is perhaps one of the most important innovations to emerge in financial markets since the 1930s, securitization has revolutionized the way that the borrowing needs of consumers and businesses are met. Today, for example, over two-thirds of all home loans are being securitized, along with substantial percentages of auto loans and credit card receivables, and the process continues to expand into new fields including synthetic securities. Authoritative and practical, these lectures show how securitization was developed to fill a gap in financial markets. They discuss the nature and causes of the market imperfections that made securitization a valuable source of funds, and describe how securitization has linked local mortgage markets with international capital markets. Readers will gain a broad perspective of the different parties--the borrower, the loan originator, the servicer, the rating agency, the special purpose vehicle, the credit enhancer, the underwriter, and the investor--as well as a detailed analysis of how these parties relate to one another. From the inception of the secondary mortgage market through the collapse of the Granite funds, readers will learn not only about the success but also about the excesses and failures that typically accompany the development of any product in the real or financial sector.

Author : Andrew Davidson
Publisher : John Wiley & Sons
Page : 576 pages
File Size : 11,57 MB
Release : 2004-04-12
Category : Business & Economics
ISBN : 0471690015

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"This book fills a very important gap in the mindset of the bond structurer and the investor. Often, the two disciplines approach their tasks ignorant of the perspectives of the other side. But successful structuring requires providing the best value to investors in order to compete, and investors who don’t fully understand structuring will not remain investors for long. Highly recommended!" —Bennett W. Golub, Managing Director, BlackRock, Inc. "An excellent primer on asset securitization, clearly written in plain English and with straightforward mathematical expressions. This book is suitable for both business school students and structured finance market practitioners." —Joseph Hu, PhD, Managing Director, Structured Finance Ratings, Standard & Poor’s "In their new work Securitization: Structuring and Investment Analysis, Andrew Davidson et al. reinforce their preeminence in the alchemy of mortgage securitization. Anyone involved in mortgages neglects Andy’s work at his peril." —Richard T. Pratt, Chairman, Richard T. Pratt Associates; Former Chairman, Merrill Lynch Mortgage Corporation "This book provides an insightful and accessible exploration of securitized real estate markets. As such, it provides a valuable service to those active and interested in these burgeoning markets. The authors have done a wonderful job of gracefully integrating a vast and important subject matter. Accordingly, this book also makes for an excellent textbook for those universities offering one or more courses in this rapidly growing field." —Joseph L. Pagliari, Jr., Kellogg School of Management, Northwestern University

Author : Hannah Broecker
Publisher : Springer Nature
Page : 247 pages
File Size : 23,21 MB
Release : 2022-10-25
Category : Political Science
ISBN : 3031162064

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This book offers a model for understanding securitization in terms of hegemonic discourse formations. It re-thinks the very meaning of security as well as the relationship between the understanding of security in traditional and critical approaches in security studies to find a common denominator between them. Deduced firmly from realist political philosophy and its analytic categories, such as state-based sovereignty, security is presented as a function of discursive formations. Providing a sound discourse-theoretical foundation which includes both linguistic and non-linguistic practices as well as a focus on relationships of power, the book offers a basis for the integration of insights generated by the different approaches to securitisation, and enhances the analytical and explanatory depth of the concept. As part of its theoretical foundation, the book further presents a fundamentally new image of long-standing theoretical and conceptual challenges within speech-act inspired approaches, including the re-formulation of central analytical categories such as the speaker-audience-context nexus. By explaining securitisation as signifying the boundaries of the construction of meaning, it presents an original understanding of securitisation, which is deeply integrated into the structures of the social construction of meaning. On this basis, the book offers a new understanding of successful securitisation factors and insights into aspects that render specific objects more or less likely for securitisation. The book proceeds to discuss two central aspects of the securitisation debate: The constitution of power, as well as an exploration of the nature of the political and politicisation. An empirical case study on the development-security-nexus offers further insights into the applicability of the theoretical model. This book will appeal to students, researchers, and scholars of political science and international relations (IR) interested in a better understanding of IR theory, realism, critical security studies, and discourse analysis.

Author : Charles Stone
Publisher :
Page : 437 pages
File Size : 35,76 MB
Release : 2012
Category : Business enterprises
ISBN :

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A comprehensive guide to the continuously evolving world of securitization The Second Edition of The Securitization Markets Handbook is a valuable resource for both experienced money managers trying to put a securitization strategy into place as well as newcomers looking to acquire a broad and strong foundation in this discipline. This edition takes a close look at the pre- and post-crash mortgage market and the mortgage-backed securities based on those mortgages, as well as other asset-backed securities including commercial paper or credit cards. The crash of the subprime market and the failure of the asset-backed markets offer an opportunity to learn about banking finance, specifically off-balance sheet finance, and the many costly mistakes that resulted in one of the most severe downturns in financial markets. With this book, you'll discover why certain mortgage and asset-backed securities imploded and others didn't. This new edition examines why the market failed and how the next crisis can be averted or made less severe. It also explains why securitization remains a primary source of capital for the mortgage market, credit card market, home equity market, auto loan market, and segments of the commercial paper market. Offers an informed overview of how the securitization market works, how to make money in it, and what's next for asset- and mortgage-backed securities after the crisis Contains new chapters on CDOs and SIVs, along with a history of the growth and crash of the subprime market, asset-backed securities, and home equity lines of credit Written by securitization experts Charles Stone and Anne Zissu Updated to reflect the current market environment, the Second Edition of The Securitization Markets Handbook offers clear, comprehensive guidance to these complex markets.

Author : Ricarda Popa
Publisher : GRIN Verlag
Page : 55 pages
File Size : 19,29 MB
Release : 2010-01-25
Category : Law
ISBN : 3640518179

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Research Paper (postgraduate) from the year 2009 in the subject Politics - Topic: Public International Law and Human Rights, grade: 13 points, University of Marburg (Faculty of Social Science and Philosophy), course: Human Rigths in Conflict, language: English, abstract: This research paper ascertains, by means of the Social Identity Theory, the social psychological characteristics that facilitate the occurrence of the securitizing act on behalf of the actor of the Copenhagen School’s Securitization Theory, termed as functional actor, and more commonly known as ‚significant addressed audience’. By this,it aims at the understanding of the factors that determine the functional actor to consent to securitization, since this category of actor has been left untheorized, despite of its key role in the securitization process. The departure point is a question that the authors of the securitization theory, themselves address: “When does an argument [...] achieve sufficient effect to make an audience tolerate violations of rules that would otherwise have to be obeyed? [...] For individuals and groups to speak security does not guarantee success” as “securitization is not decided by the securitizer, but by the audience of the speech act.” (Buzan 1998:25,31) The only stipulation refers to the functional actor’s power to materialize securitization, being neither the referent object, nor the securitizing actor. The deficiency of theorization has impelled a social psychological elaboration of the functional actor’s distinguishing features that causes it to accept the securitizing act, since the absence of details in this respect leaves much space for interpretation, and leads to the investment of resources, when securitization analysis should not be centered upon the establishment of the actors, but upon the process and dynamics of securitization.

Author : Heidi Hein-Kircher
Publisher : Taylor & Francis
Page : 328 pages
File Size : 50,80 MB
Release : 2022-07-21
Category : Political Science
ISBN : 1000620050

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The book explores the complex, multi-directional connections of the "mobility/security nexus" in the re-ordering of states, empires, and markets in historical perspective. Contributing to a vivid academic debate, the book offers in-depth studies on how mobility and security interplay in the emergence of order beyond the modern state. While mobilities studies, migration studies and critical security studies have focused on particular aspects of this relationship, such as the construction of mobility as a political threat or the role of infrastructure and security, we still lack comprehensive conceptual frameworks to grasp the mobility/security nexus and its role in social, political, and economic orders. With authors drawn from sociology, International Relations, and various historical disciplines, this transdisciplinary volume historicizes the mobility-security nexus for the first time. In answering calls for more studies that are both empirical and have historical depth, the book presents substantial case studies on the nexus, ranging from the late Middle Ages right up to the present-day, with examples from the British Empire, the Russian Empire, the Habsburg Empire, Papua New Guinea, Rome in the 1980s or the European Union today. By doing so, the volume conceptualizes the mobility/security nexus from a new, innovative perspective and, further, highlights it as a prominent driving force for society and state development in history. This book will be of much interest to researchers and students of critical security studies, mobility studies, sociology, history and political science.

Author : Andrea Schneiker
Publisher : Nomos Verlag
Page : 220 pages
File Size : 19,62 MB
Release : 2018-05-02
Category : Political Science
ISBN : 3845291273

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Der Sammelband widmet sich der Analyse transnationaler Expertise - eines Themas, das in jüngerer Zeit beträchtliche Aufmerksamkeit in der Sozial- und Geschichtswissenschaft auf sich gezogen hat. Ihren Ausdruck fand die Forschung in der Entwicklung von Konzepten über transnationale Expertennetzwerke, Epistemische Gemeinschaften oder Gemeinschaften von Praktikern. Dennoch mangelt es bislang weiterhin an systematischem Wissen über die Funktionsweise transnationaler Expertengruppen und die Wechselbeziehungen, die es zwischen ihnen und Akteuren und Organisationen der transnationalen Politik gibt. Vor dem Hintergrund, dass transnationale Expertise bereits seit geraumer Zeit eine wichtige Rolle in der öffentlichen Politik spielt, nimmt dieser Band eine interdisziplinäre Perspektive ein und präsentiert Beiträge aus der Politikwissenschaft, der Soziologie und der Geschichtswissenschaft. Mit Beiträgen von Ingvild Bode, Christian Henrich-Franke, Robert Kaiser, Christian Lahusen, Alexander Reinfeld, Lukas Schemper, Andrea Schneiker und Carola Maria Westermeier.

Author : Thierry Balzacq
Publisher : Routledge
Page : 273 pages
File Size : 45,5 MB
Release : 2010-09-13
Category : History
ISBN : 1135246149

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This volume aims to provide a new framework for the analysis of securitization processes, increasing our understanding of how security issues emerge, evolve and dissolve. Securitisation theory has become one of the key components of security studies and IR courses in recent years, and this book represents the first attempt to provide an integrated and rigorous overview of securitization practices within a coherent framework. To do so, it organizes securitization around three core assumptions which make the theory applicable to empirical studies: the centrality of audience, the co-dependency of agency and context and the structuring force of the dispositif. These assumptions are then investigated through discourse analysis, process-tracing, ethnographic research, and content analysis and discussed in relation to extensive case studies. This innovative new book will be of much interest to students of securitisation and critical security studies, as well as IR theory and sociology. Thierry Balzacq is holder of the Tocqueville Chair on Security Policies and Professor at the University of Namur. He is Research Director at the University of Louvain and Associate Researcher at the Centre for European Studies at Sciences Po Paris.