%0 Journal Article %A Michele Cea %T How Much Skin in the Game? %D 2011 %R 10.3905/jsf.2011.17.3.054 %J The Journal of Structured Finance %P 54-58 %V 17 %N 3 %X This article focuses on the evolution of the securitization model. It first illustrates the rise of this practice and the reasons for its success. The discussion then deals with the flaws of the securitization paradigm that emerged during the recent financial crisis. Finally, the article describes how the Dodd–Frank Act and regulators have been tackling the issue.TOPICS: CMBS and commercial mortgage loans, CLOs, CDOs, and other structured credit, legal and regulatory issues for structured finance %U https://jsf.pm-research.com/content/iijstrfin/17/3/54.full.pdf