A disastrous 15 minutes of fame

As Eurohypo’s Henning Rasche reminded us at a conference in New York in May, the Wall Street Journal once asked “Will Pfandbriefs, whatever they are, play in Peoria?” i.e. will they be acceptable to people in the average US city? Not if the media coverage they and covered bonds in general have been receiving in the past week is anything to go by.