Still about their collateral loan obligation (CLO)
Today, business loans with a junk rating reached a record $ 550 billion. Above 2008.
80% of new loans of this kind are "covenant-lite", translate without constraint or control.
And these repackaged products are snapped up. All investors want CLO of this kind in order to be able to post and shows high returns.
We take the same and start again…
In 2008, there were no tension, or no particular problems between the US, the EU, China and Russia,
Today a new crisis will mean nobody will trust each other nor banks or governments.
Hope people will trust tokens after that...