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via bloomberg: Financial markets have short memories. Of late, they’ve convinced themselves that collateralized loan obligations (CLOs) are much safer instruments than the collateralized debt obligations, or CDOs, on which they’re … Read more
Apparently nobody learned any lessons from 2008. Derivative products are dangerous. Investors have are purchasing less of the same types of derivatives that caused the Financial Crisis. But do not … Read more
via bloomberg: The townspeople just can’t win. Consider Wall Street’s latest financial Frankenstein of a bad idea, collateralized fund obligations. Perhaps a better monster metaphor would be zombies, because these securities … Read more