Central Banks Admit Their Actions are Reckless - When the Fed serves drinks, everyone guzzles until they fall down.
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- Some $125 billion were issued in 2007.
- $60 billion were issued in 2009.
- Issuance in 2013 was up to around $125 billion.
- This year's number will be greater.
- Issuance is of bundled loans made to bankrupt car buyers.
- A recent issue priced to yield 18.6% was oversubscribed by a factor of 4.