McKinsey consultants began churning out articles and books that extolled the benefits of credit securitization. In 1988, the firm published Bryan’s Breaking Up the Bank, which put securitization at the center of a completely overhauled banking system. A second book, Securitization of Credit, by the McKinsey consultants James Rosenthal and Juan Ocampo, offered a how-to guide for companies and banks that wanted to employ the “technology.” The McKinsey trio of Bryan, Rosenthal, and Ocampo also published journal articles that would soon be cited by the Federal Reserve as it explored the new
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