Article
Oh My F**king God, They're Doing It Again
Oh My F**king God, They're Doing It Again
Submitted by QTR's Fringe Finance
Assholes who wear Vineyard Vines all summer on Wall Street have once again put those Wharton PhD’s to good use by again “discovering” that assets so toxic and illiquid they make drinking cement taste like Fiji water apparently become safe when you rearrange them, rename them, and place an insurance company between the losses and the people buying them. Sound familiar?
According to Bloomberg, UBS and other firms have been exploring structures that package stakes in private-credit funds into bonds....
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