Collateralized Debt Obligations CDO
Definition of 'Collateralized Debt Obligations CDO'
Super-senior holdings are the highest-rated of all CDO bonds. When the Global Financial Crisis (GFC) hit the marked these plunged as subprime-mortgage defaults surged causing many banks for post record losses.
Citigroup, for example, had to get a $45 billion taxpayer bailout in late 2008.
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