Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Collateralized loan obligations (CLOs) are structured securities ...

Scott Nevil is an experienced writer and editor with a demonstrated history of publishing content for Investopedia. He goes in-depth to create informative and actionable content around monetary policy ...

Slate’s archives are full of fascinating stories. We’re republishing this article because it remains a reader favorite. It was originally published April 12, 2017. In 2022, the author of this piece, ...