COVER STORY - Distressed debt bankers circling for prey in China
With billions of dollars in discounted collateralised mortgage loans and a recession either near or underway, the United States would seem the obvious target for so-called vulture funds. Yet investment banks are busy ramping up their distressed debt teams in anticipation that bad times are also headed to China. The question is: how complacent have the nation's domestic firms become? Naomi Rovnick reports.
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