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Among the financial market reform concepts in the private sector that have resurfaced in the wake of the recent downturn and as part of the quest for transparency has been the idea that securitized mortgages and other asset-backed securities could be traded on an exchange as stocks are.
Larry Fondren, a financial market innovator who said that a lack of support and opposition from dealers and other market participants cut his somewhat similar effort short back in the 1990s, thinks it is time to try again.
The world is different now, he said, adding that it is less tolerant of what he describes as the market's potential for abuse.
Wall Street is not what they once were in terms of public perception or due to consolidation from the downturn, he adds. Finally he notes that a key difference today...