Send a Tweet
Most Popular Choices
Share on Facebook 10 Share on Twitter Printer Friendly Page More Sharing
General News   

The Looming Bank Collapse

Quicklink Submitted By   3 comments
Become a Premium Member Would you like to know how many people have read this article? Or how reputable the author is? Simply sign up for a Advocate premium membership and you'll automatically see this data on every article. Plus a lot more, too.
Author 4979
Follow Me on Twitter     Message Jerry Lobdill
Become a Fan
  (24 fans)

Remember the 2008 collapse? Our friends on Wall Street and their allies in the US Treasury have a new one in the works. In 2008 it was the Collateralized Debt Obligations (CDOs) that brought the economy down. This time it’s another new similar invented villain, Collateralized Loan Obligations (CLOs).  They are very much like CDOs, but instead of home mortgage loans they involve leveraged loans made to troubled businesses whose debt burden is already maxed out  CLOs bundle together so-called leveraged loans, the subprime mortgages of the corporate world. 

At present there is more than $1 trillion of leveraged loans outstanding. The majority are held in CLOs. Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin say they have managed to move the risk of leveraged loans outside the banking system as was done for CDOs, but that is a lie says this article. 

Read the rest of the story HERE:

At medium.com

 

Rate It | View Ratings

Jerry Lobdill Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in


I am a retired physicist and hold a B.S. in Ch. E. as well. I have been an environmental activist since the early 1970s. I was a founding member of the Save Barton Creek Association in Austin, TX. In 2006 I was a member of a select (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Follow Me on Twitter     Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

To View Comments or Join the Conversation: