[bostik]

Having just read both Liar's Poker and Barbarians at the Gates, the concept of CLOs sounds awfully familiar.

Loaning money to high-risk companies? Bundling a whole bunch of said loans into securities? High returns despite the risk of a significant fraction of defaults? Sounds like the world has been here before.

If this was a B-flick, it might well be called the return (or revenge) of the junk bond monster.

[Grimm1]

This sounds entirely the same and this time the industry probably thought they were so clever because companies are likely still less risky than individual consumers and then oops Corona!