Securitization -- the Play
Securitization is alive and well: off, off Broadway. Last night saw the premiere of Monetizing Emma, a play about a teenager who securitizes her future possibilities. HousingWire happily attended the premiere (in spirit), in the front row, wearing tuxedos and holding a whole mess of nachos. In an interview with writer and ABS journalist, SourceMedia's own Felipe Ossa, the play is particularly apt since the market in securitization is stalled and it's only a matter of time before new assets to pool are envisioned. Inspired by Jane Austen novels, Ossa says: "Girls in those tales are often forced to make financial decisions. In Austen novels it's all about the money required to get a suitor. In today's environment a girl needs to marry the market." In the play, the whole deal is carried out by fictitious boutique investment firm, Thackeray Walsh. And the idea is not so far-fetched for those who have been in the financial writing space for a while. Remember Bowie Bonds anyone?