(This article appears courtesy of International Financial Law Review, sign up for a free trial on their site)
Daniel Andrews
Features editor
Amid the storm of recrimination over the fallout from the US housing market, many investors were trying to find ways to exit their positions in a timorous and illiquid market. The problem was, many of them didn’t understand the exposure contained in instruments such as collateralized debt obligations (CDOs). They could perhaps have benefited from some more nuanced and sophisticated legal advice.
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