A company that sells stock without specifying how invested money will be spent.
- ‘In the 1980s there were lots of bad guys engaged in blind pools and shells,’ says David Feldman, a partner at the New York City law firm of Feldman Weinstein.
- Deborah Seine, managing director in the ABCP group at Fitch Ratings, said that these ABCP conduits are ‘blind pool financing vehicles’ so that an investor doesn't know who are the ultimate sellers in the program.
- Under the new rules, sponsors of a blind pool will need five years of real estate experience.
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