The general tendency within this paradigm is towards securitization, the process by which basic investments, assets and revenue streams can be cut apart and recombined to build new synthetic investment instruments which allow an almost surgical manipulation of risk (Martin 2007, 17–42). The key feature of securitization as a paradigm is that it moves speculation and risk management from a marginal, supportive role in global economic affairs to the forefront of profitability. In general, securitization refers to the way multiple forms of investment, or derivatives thereof, might be packaged together, woven into an inter-reliant vehicle for speculation. … Securitization effectively packages future probabilities as present-day commodities through the highly sophisticated manipulation of risk.

Max Haiven, Cultures of Financialization, loc. 255