All fall down - What's the next move for structured credit?

Banks are still counting the cost of the summer's credit crisis yet thoughts are already turning to what shape the structured credit market may take after the recent catastrophe. Are we looking at a new market paradigm or will things be the same as before? Sarfraz Thind reports

The recent turmoil in the credit markets has had a widespread impact on the shape of the structured credit business. From an environment where credit spreads had ground to their tightest levels ever, where innovation and complexity were rampant, where volatility had hit lows and high leverage seemed the name of the game, things have suddenly come crashing down. "The combination of financial innovation, the difficulties in measuring risk and issues with pricing, opacity and leverage have all