[quote=Rt.66]
“Debt can no longer be sold as an “asset”. It’s that simple.”
[/quote]
What is this supposed to mean? One entity’s debt is another entity’s asset. That’s an accounting tautology. Now, if it were reworded to say, “Most debt is trading below its par value and there will be plenty of losses on these assets,” well then that makes sense. Or perhaps, “It’s much harder to sell debt today on the same terms as a few years back,” that makes sense as well. But I can tell you that there is plenty of debt being sold out there every day, even in this environment.
But, “Debt can no longer be sold as an asset”? That’s patently absurd. I’m curious as to who managed to get themselves quoted saying that.
