Financial Post, 21 Nov 2008, Duncan Mavin
HONG KONG -- There are glaring parallels between the Lehman mini-bond debacle playing out in several Asian cities and Canada's ongoing asset backed commercial paper fiasco. There are some striking differences, too.
In both cases, significant numbers of retail investors claim they thought they were buying low-risk savings products that turned out to be opaque financial derivatives. Both sets of investors are demanding their money back after the dud investments soured.
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