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" 'Renewable unsecured subordinated notes' are personalized, small-scale junk bonds. The debt is unrated, uninsured, has no sinking fund to pay off the notes and has no trading market." -quoted from Chuck Jaffe's MarketWatch article <a href="http://www.marketwatch.com/news/story/high-yield-enticing-unsecured-unrated/story.aspx?guid={D0A924C5-51FA-4C30-99EF-65FD95B1DC6B}"> Stupid Investment of the Week: High yield is enticing, but unsecured, unrated notes are not</a>

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Q: How safe are cps unsecured subordinated notes?
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