Katz’s warnings feel eerily prescient in light of recent economic events. The 2008 financial crisis, driven by mortgage-backed securities (which Katz warned about as tools of the “Paper Aristocracy”), exposed the fragility of our financial system.

Jornalista
Katz’s warnings feel eerily prescient in light of recent economic events. The 2008 financial crisis, driven by mortgage-backed securities (which Katz warned about as tools of the “Paper Aristocracy”), exposed the fragility of our financial system.