Latest SIV downgrades are not the end, but final warning
Is the long-feared deluge, when structured investment vehicles collapse in a vast firesale of assets, about to happen? On Friday Moody’s downgraded or put on review a huge swathe of SIVs’ senior debt. So far the market has staved off disaster, and it may be able to for a little longer, but it is time to stop quibbling and restructure — fast.
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