“If language is not correct, then what is said is not what is meant; if what is said is not what is meant, then what must be done remains undone; if this remains undone, morals and art will deteriorate; if justice goes astray, the people will stand about in helpless confusion. Hence there must be no arbitrariness in what is said. This matters above everything.”
From The Analects of Confucius, Book 13, Verse 3 (James R. Ware, translated in 1980.)
According to Ann Rutledge, who has been in the securitization business for decades and is a scathing critic of current practices, the solution to the current problems with securitization is: creating formal definitions for the terms used in the industry.