Undermoney (guest: Jay Newman)
The Market Huddle
00:00
Is There a Market in Bank Loans?
30 countries defaulted on their sovereign debt in the early 1980s. The banks said they'd love to trade these things, but who would run a trading desk? Fourow says it was one of those wild situations where there was no market. They must have just traded by appointment, rightly?, he asks.
Play episode from 10:34
Transcript
