Senior TAR Party leadership reshuffle: Gong Huicai (龚会才) promoted to deputy Party secretary; another marker of #securitisation. A career TAR cadre, his background includes senior public security & political-legal roles in Lhasa & Nagchu before rising through the Party hierarchy. archive.is/Z15KW
That leaves an open question for anyone treating these securities as a gauge of the American subprime borrower: is strong bond performance a sign that the system is sound, or just a measure of how much padding it has? #AssetBackedSecurities #SubprimeAuto #Securitisation
