The securitization of mortgages originally was seen as a triumph, because it shifted risk to financial markets, while taking deposits and making and monitoring loans – the purview of traditional banks – was regarded as narrow and old-fashioned.
La securitización de las hipotecas originariamente era vista como un triunfo, porque desviaba el riesgo a los mercados financieros, mientras que tomar depósitos y otorgar y monitorear préstamos –la competencia de los bancos tradicionales- era considerado algo limitado y anticuado.