"We will continue to see deals liquidate, but it's a lot more difficult than people would let on. Just the fact that you have to go through every single noteholder is tough. You don't know who all of them are."
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"We will continue to see deals liquidate, but it's a lot more difficult than people would let on. Just the fact that you have to go through every single noteholder is tough. You don't know who all of them are."

-- Michael Yilmaz, collateralized debt obligation and asset-backed securities trader at Elliot Management, on the prospect for mass CDO liquidations.

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