“collateralized loan obligation,” or C.L.O
C.L.O.’s are nothing more than a package of risky corporate loans made to companies with less than stellar credit.
The big Wall Street banks make these loans to their corporate clients and then seek to move them off their balance sheets as quickly as possible, in the same way that a decade ago they packaged up and offloaded risky mortgage securities.
The big Wall Street banks make these loans to their corporate clients and then seek to move them off their balance sheets as quickly as possible, in the same way that a decade ago they packaged up and offloaded risky mortgage securities.
William D. Cohan a former investment banker and the author of four books about Wall Street, New York Times March 18, 2019
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