Inside the murky Greensill corner of shadow banking – Sydney Morning Herald

Where funding for factoring has traditionally been provided by banks and other conventional lenders, he created vehicles investment funds to finance what are essentially short-term loans.
By packaging the loans/receivables together in funds offered by big asset managers such as Credit Suisse and Swiss-based GAM Holding and adding credit insurance (or providing some capital support of its own) to cover any potential losses, Greensill was able to market the funds to pension funds and corporate treasurers…

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