Kirk Greene: Wall Street’s Memory Fades as New Financial Products Spark 2008 Flashbacks

Kirk Greene: Wall Street’s Memory Fades as New Financial Products Spark 2008 Flashbacks

As Mark Twain said, “History never repeats itself, but it does often rhyme.” The Wall Street Journal recently reported on the SFVegas 2025 annual meeting for the structured finance industry. What, might you ask, is structured finance? Well, think back to the 2008-2009 Great Recession that was brought on by subprime (no money down, no credit rating, no job — no problem) mortgages that were packaged up by Wall Street in a wide variety of securitie…