Though different parties to the National Century Financial Enterprises securitizations have been scrutinized for not pursuing the more obvious red flags - such as accusations of fraud, lawsuits and misappropriation of funds - a few mouse clicks through Edgar's company search reveals a small flurry of obligor-level disclosures pointing to stress and questionable dealings in the NCFE healthcare receivables trusts.

Of course, one of the day's most heated arguments involves the level of due diligence required by the different parties to a securitization.

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