Evaluate Financial Markets, Securities, and Institutions Along with Associated Risk.

1. Financial engineering has been disparaged as nothing more than paper shuffling. Critics argue that resources used for rearranging wealth (that is, bundling and unbundling financial assets) might be better spent on creating wealth (that is, creating real assets). Evaluate this criticism. Are any benefits realized by creating an array of derivative securities from various primary securities? 2. Why would you expect securitization to take place only in highly developed capital markets? 3. What is the relationship between securitization and the role of financial intermediaries in the economy? What happens to financial intermediaries as securitization progresses? Support your paper with a minimum of five (5) resources. In addition to these specific resources, other appropriate scholarly resources, including older articles may be used.