The fundamental question today is who monitors opaque loans, whether of the sub-prime or any other variety. Traditionally, the answer was banks; in the securitized world, it remains a question.
现在根本的问题是谁来监控不透明贷款，不管是次贷还是任何其他种类。从传统上讲，答案是：银行；在证券化的世界里，这个问题依旧没有答案。