[Seufman]

The difference here is that most investors in these kinds of "securities" being issued by tech companies would demand more data than the investors in securitized mortgage assets did. In lieu of performance data, investors in MBS relied on ratings from ratings agencies that were dependent on the business of the banks that issued the securities. The failure of ratings agencies to accurately assess the risk in the securities is the reason the MBS vehicles grew in popularity (they all looked AAA!) and also why they exploded.