Too Long; Didn't Read
The first ETF Tracking the $700 Billion CLO-Market begins trading on the New York Stock Exchange. Wall Street banks couldn’t even calculate how much risky securities on their books were really worth, writes John Defterios. As a result, the crisis of confidence has infected the world, driving the dollar to record lows - and helping send the prices of commodities, especially oil, soaring to historic highs. Some are scared that if the economy continues to suffer from loan defaults, leading to a wave of defaults.