In the spring he paid between 70 cents and 80 cents per dollar of face value for a senior tranche of the WaMu Mortgage Pass-Through 2005-AR2, which carries a coupon rate of Libor plus 31 basis points, or 3.52% in September.

FORBES: Yes, there is a market for toxic mortgages.

Five years ago Russia had a big budget deficit, a fixed exchange rate and a lot of high-coupon debt.

ECONOMIST: Russia's economy

To do so, it issues 5-year bonds, also called notes, with a 7% coupon rate.

FORBES: Government Bonds Pick Boomers' Pockets, Next Bubble To Pop

In the negotiations over Greek debt, the Greek newspaper Ethnos reported that bondholders are willing to accept a coupon rate of below 4% on bonds they would receive under a debt-exchange program.

WSJ: European Stocks Close at Highest Since August

Just like the pain experienced by conservative coupon-clipping bond investors, money is barely earning any interest, due to a low rate environment.

FORBES: Who Benefits From The Fed's Bloated Balance Sheet?