The Next Dominos: Junk Bonds and Counterparty Risk

December 1, 2007 by Ted Seides

Published in Peter L. Bernstein’s Economics & Portfolio Strategy, December 1, 2007

Nearly a year before the collapse of Lehman Brothers, Ted details the massive imbedded leverage in the financial system through the opaque credit default swap market. He forewarns serious and inevitable risk in the credit markets.

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