Credit Risk and Exchange Traded Notes

In their fifteen year history, which includes the 2008/2009 financial meltdown, a grand total of three Exchange Traded Notes (ETNs) have gone bust due to credit default—all 3 were issued by Lehmann Brothers.  The total loss to investors was less than $15 million.  This article on ETF.com gives the detailed story. How many public companies have gone bankrupt, rendering their stock worthless, in the last …

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