Toxic Paper: The Root of the U.S. Recession

October 1, 2009

Hernando de Soto, the keynote speaker at the 2009 ALTA Annual Convention, describes the root cause of the current economic crisis: trillions of dollars of financial instruments derived from bad mortgages that were sliced, diced and repackaged into huge clumps of financial products that have contaminated the market and threaten to destroy one of the greatest achievements of property law and hence Western capitalism: the power to identify and isolate with precision every asset and every individual interest in that asset.

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