This is in part due to a search for yield (same as we saw with the housing crisis). There is such a glut of capital that it will invest in anything - even risky

This is in part due to a search for yield (same as we saw with the housing crisis). There is such a glut of capital that it will invest in anything - even risky CMBS - without performing adequate due diligence. If you don't invest, someone else will. Unfettered "quantitative easing" distorts the price of risk. This is the not-so-surprising consequence.