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TORONTO, ONTARIO: FEBRUARY 09, 2012 - Bay Street in Toronto, Ontario is seen here Thursday Feb. 9, 2012. (Tim Fraser for The Globe and Mail) (For ROB story by n/a)
TORONTO, ONTARIO: FEBRUARY 09, 2012 - Bay Street in Toronto, Ontario is seen here Thursday Feb. 9, 2012. (Tim Fraser for The Globe and Mail) (For ROB story by n/a)
(Tim Fraser For The Globe and Mail)

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There’s money being made in ABCP, but most of it goes to the U.S.

One of the sad truths in the denouement to the asset-backed commercial paper fiasco is that most of the losses from that mess were sustained in Canada, while most of the gains in the restructuring are accruing to investors outside the country.

There are still some returns to be had by buying the restructured paper, and safe ones at that, say managers who have been purchasing the paper, even if the big gains are in the past.