That Was The Week: Now you CLN it, maybe soon you don't

Whatever Bafin, Germany's financial regulator decides about the future sale of credit-linked notes (CLNs) to retail investors, it's threat to ban them all offers up something most unusual: an inconsistency and perhaps even an error in the way the market is governed. It is unclear what made the regulator act, which has allowed for some flights of fantasy among observers as well as astute guesswork, perhaps. It may be that we never know the real answer for the regulators leap into life, but the s