I am wondering how the loan market works, why are people willing to buy a company’s loan and why would an aggregate pool of loans be used as a collateral for asset backed securities.
How can this be sustainable?
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I’ve got a buddy who started working for an investment bank after finishing Uni in 2001. He was responsible for building an algorithm for trading INTEREST RATES! Not even the monetary interest itself, but the banks started trading rates! I can’t even get my head around how that actually works in practice!
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