The article examines how structured finance impacted the financial crisis of 2007 and evaluates current regulations. By analyzing structured finance ratings and issuance, the study identifies key issues that led to the crisis. The behavior of market participants is explained using theoretical models and surveys. The EU regulations on credit rating agencies and Basel II enhancements are assessed, with most improvements aligning with the identified problems. However, some approaches, like the leverage ratio, may hinder global economic growth.