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Collateralized loan obligations are backed primarily by leveraged bank loans.

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New collateralized loan arrangements could also be attractive to private Western creditors, despite non-repayment of most Soviet debt.

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Third, it's unwise to invest in vehicles like collateralized debt obligations and collateralized loan obligations that you don't understand.

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Perhaps the most dangerous structured finance product of the last decade, collateralized debt and collateralized loan obligations are making a comeback.

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