Posts Tagged ‘CDOs
Teamwork! Rep. Helps Dems Get Derivatives Regulation Package Out of Committee
In a kind of shocking move, a Republican actually did the Democrats a solid by voting “yea” on its Derivatives Regulation Package to move it out of the Senate Agriculture Committee (apparently the derivatives that aggravated the financial crisis were tied to certain farm commodities, which is why the proposal ended up in the Agricultural [...]
Former Goldman Employee Testimony May Weaken Govt. Case
Paolo Pellegrini, a former Paulson executive who worked on the Abacus deal, has come forward with information contradicting the government’s contention that Goldman misled investors by marketing complex synthetic financial securities to them that were tied to subprime mortgages chosen by John Paulson and which Paulson later bet against. According to the LA Times, Pellegrini [...]
All the Fuss About the Goldman Fraud Charges
So April 16, the SEC charged Goldman Sachs and VP Fabrice Tourre with civil fraud charges stemming from 2007 CDO deals with John Paulson’s hedge fund (the eponymous Paulson & Co.)– and since Goldman and Paulson are huge names and the prospect of scandal makes us all salivate, everyone has their panties in a twist. [...]
Fueling the Fire: Magnetar Bets Against the CDOs It Created
So, there’s a really lengthy article on ProPublica about Magnetar and all of its sketchy but technically not illegal trading of subprime mortgage securities. I could summarize it myself, but Courtney Comstock of Business Insider did such an amazing job that I’m just going to re-post what she wrote and give her a nice little [...]
Does Wall Street Literary Wonder Michael Lewis Borrow Ideas from College Theses?
In the wake of the release of Michael Lewis’s latest best seller, The Big Short, Lewis himself has acknowledged repeatedly (on the Daily Show, in press releases and in the acknowledgments section of his book) that he was influenced by a Harvard undergraduate senior thesis. Of course, Lewis’s book is a much more comprehensive look [...]
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