Page Perry

The asset-backed securities market ? “the Wall Street credit machine that helped set off the financial crisis” ? has come back to life, according to a New York Times article called “Wall Street Securitization Machine Back Into Gear?” Securities backed by commercial real estate, which apparently did not reach expected lows, are leading the pack. Bankers are calling the resurgence C.M.B.S. 2.0, referring to new versions of commercial mortgage-backed securities. But securities backed by bundles of car loans and collateralized loan obligations are also on the upswing.