"What we found is that in 2006-2007 during the height of investor mania, portfolio managers of collateralized loan obligations and others were too busy maintaining a fully invested profession or they were not staffed properly to adequately monitor the new changes that were happing in their books."

March 14, 2008 12:00 am

-- Neal Schweitzer, senior v.p. at Moody's Investors Service on the rise of looser covenants.

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