In view of the turmoil in the credit markets, securitization of productive assets is perhaps the only realistic financing proposition. A few guidelines are in order here.

In view of the turmoil in the credit markets, securitization of productive assets is perhaps the only realistic financing proposition. A few guidelines are in order here.

The chaos today on Wall Street bears no resemblance to earlier meltdowns, primarily because it comes at a time when the five-decade-old process of global capital accumulation has stalled, and because risk insurance coverage providers, who remained pillars of that process, are now finding out that their risk assessment methodologies were premised more on optimism than verifiable substance.