Securitization and its players have started to emerge from the black hole the market was in at last year's gathering. In 2008, the attendees at this event were worried about the possible end of securitization. Everyone was so downtrodden that it almost seemed like there would never be another ABS East conference.
But this year proved that wrong. Last week's gathering was markedly different, and investors at the event seemed more optimistic about getting back into the game. "I think the reason everyone has been so positive this year is because the world as we know it didn't collapse," said John Devaney, CEO of United Capital Markets.