[Dealers' correlation books] look like an accident waiting to happen.

February 15, 2004 12:00 am

Frederick Horton, managing director at Trust Company of the West, voicing his concerns about the theory behind single-tranche collateralized debt obligations.

"[Dealers' correlation books] look like an accident waiting to happen."--Frederick Horton, managing director at Trust Company of the West, voicing his concerns about the theory behind single-tranche collateralized debt obligations

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