Nightmare on ETN Street
Roger Nusbaum (September 25th, 2008) Writes:
As you probably know ETNs are debt obligations of someone, usually a bank. Apparently Lehman Brothers backed a few of them under the brand name Opta. I don't remember what the Opta ETNs are/were but their fate seems to be in question because Lehman Brothers went under.For purposes of this post it does not matter what the Opta ETNs tracked or whether Barclays makes good or not.If you are interested in that part of it both Index Universe and Tom Lydon are all over it.I wrote about several ETNs for theStreet.com about certain funds that I thought were interesting.A typical disclaimer I put in those articles was that it is unlikely that an issuer would go under (despite what has happened, that is still a true statement) but that it would not be a good ...
Alphaville, Bank, Barclays, CNY, ETN Street, Lehman Brothers, Market Commentary, Morgan Stanley, Tom Lydon, UBS, Universe


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