In this series of four articles this week Ida Ince of Critical Legal Thinking examines the course of the Credit Crunch from the perspective of the interface between the hyper-financialised world of collateral debt obligations and securitisation, and the more familiar world of industrial corporate debt.

It is at this nexus that many of the subsequent developments in the world economy can be located. It also provides a useful starting point for discussing legal complexity, rather than the ‘antecedent but not principal cause’ of the crisis, namely the bust in the Residential Mortgage-Backed Securities market, whose structure operated as a culmination of legal and economic innovations in varied fields, including that of corporate debt finance.

 http://www.criticallegalthinking.com/?p=2112