Excess Spread — Selling misselling, Blue solution, who buys CMBS?
Would you like a 15% risk-free return, backed by REAL ASSETS*?
Several years ago, I saw an advert for whiskey-backed bonds — having an interest both in whiskey and in asset-backed bond structuring, I naturally clicked and entered my details. A VERY enthusiastic salesperson was soon connected with me, who hung up as soon as I said I was a journalist and interested in understanding the collateral package. Red flag!
