Yet somebody (or some...thing) has the tranches that are made out of default. That may not be the smart money, or even the dumb money, or even the money that wa

Yet somebody (or some...thing) has the tranches that are made out of default. That may not be the smart money, or even the dumb money, or even the money that was overexposed to heavy metals when it was young [1]. [1] Apologies to Ned Beauman https://www.penguinrandomhouse.com/books/709614/venomous-lumpsucker-by-ned-beauman/ https://www.penguinrandomhouse.com/books/709614/venomous-lum...