Junk bond and leveraged loan issuers extend maturities, reminiscent of post-2008 “extend and pretend” strategy.

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Back in the days after the 2008 financial crisis we used to talk a lot about “extend and pretend,” or the idea that banks and mortgage servicers were modifying home loans to keep them afloat.

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Troubled NYCB is not another Silicon Valley Bank. It’s worse.


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