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Parliament.UK - Carmel Butler Memo

The following text and documents are in the public domain and can be found on

Under the Title of Banking Crisis and Treasury Contents is a section of memorandums, commentaries and written evidence.

Specific to Mortgage Securitisation is an inside view from a UK legal professional Carmel Butler:

Carmel's Introduction:

I am British Citizen resident in the UK and a qualified lawyer admitted to practice in New York, U.S.A. I have an LLB Laws from the London School of Economics and a JD (Juris Doctor) from Columbia University, New York. I practiced securities law at Sidley Austin LLP New York office from September 2006 to December 2007. Whilst at Sidley Austin I worked on various Structured Finance transactions such as mortgage securitisations, CDOs and various derivatives. I am also a consumer of a mortgage product that has been securitised. Consequently, as both an ex-practitioner of securitisations and a consumer subjected to a securitisation, the intention is to focus on consumer issues that arise from mortgage securitisations, its central causal role in the banking crisis and its detrimental effect on the economy and public purse.

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