About an hour ago I asked @NeelyTamminga if she knew if anyone was securitizing these BNPL loans from Klarna. She asked a few contacts and @BankerWeimar was kind enough to chime in that these loans were securitized in some Private Label ABS in 2024.

Now @LeylaKuni has shared a thread from March where she states that Klarna is doing synthetic securitizations on these loans. WTF!?!

We are officially here in the movie, where we find out the extent of the stupidity. 👇🏼