Credit deals and hybrid structured products

Giving ailing credit transactions an injection of healthy asset classes to make a hybrid structured product could be a way to limit the damage the credit crisis has inflicted on investors. But correlation concerns mean the subsequent risk profile could be too much for investors and structurers to bear

Six months after it began, the ramifications of the credit crisis still loom large in the financial press. Each day brings further revelations of billions of dollars worth of writedowns and losses by major banks. For some participants, holding onto not just their clients, but their jobs, depends on finding ways to minimise those sums. However, some of the industry's best innovations can arise when banking minds are put under stress - and it would be difficult to imagine much more stress in the