Retrieving "Obligations" from the archives

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1. Credit Markets

   Linked via "obligations"

   Securitization and Hidden Risks
   The process of securitization, involving the pooling of individual debt obligations (like mortgages or auto loans) into tradable securities, dramatically alters the structure of credit risk. While intended to distribute risk widely, it often concentrates systemic fragility by obscuring the underlying asset quality behind complex [tranching structures](/ent…