Issuance of whole-business ABS is on track to break a record this year, with $4.6 billion in volume at halfway mark. Issuers include fast food companies, aftermarket car services and spa services.
A recent court ruling in the case of Powell v. Ocwen Financial could significantly expand liability for non-agency MBS participants by subjecting MBS transactions to the Employee Retirement Income Security Act.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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