Cars can fill the sub-prime hole for bankers

Oct 01, 2007
<p>A refinement of collateralized mortgage obligations is proposed: the &lsquo;collateralized recently owned auto promise&rsquo;, or CRAP</p>
The continuing tsunami of Chinese cash flooding into the global financial system has helped create an insatiable demand for new financial instruments that offer long-term security and steady returns. The banking sector rose to the challenge with characteristic

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