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CLOs: ground zero for the next stage of the financial crisis?

One of Wall Street’s least known but most important debt machines: collateralised loan obligations.

The close cousin of collateralised debt obligations that became notorious during the subprime mortgage meltdown over a decade ago 

FT 13 May 2020

C.L.O.’s are nothing more than a package of risky corporate loans made to companies with less than stellar credit. 

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