J.P. Morgan: ‘We Are Sooo Pregnant with This Deal’
It's not quite the embarrassing emails the SEC dredged up from Goldman Sachs, but the agency has again gone fishing for evidence in emails and come up with some colorful correspondence at J.P. Morgan over a soured mortgage-backed security called Squared.
Further further reading
For the commute home, - Cisco beats expectations after the bell.- What is the Gulf Cooperation Council?- Oil prices and trading mechanics.- More on those new CDOs, ETFs....
If we build it, they will come
FT Alphaville has explored the financing and bespoke servicing role of ETFs before.The FT’s Gillian Tett has now openly likened the products to CDOs.Given that, we thought...
Centralised price discovery!
Behold a central pricing solution for illiquid assets… stuff like TruPS CDOs or, err, Irish bank loans.Now that comes from independent valuation consultancy firm PF2 Securities Evaluation,...
The EFSF chief executive writes in…
Klaus Regling, the chief executive of the European Financial Stability Facility, strives to argue in a recent letter to the FT that he is not in charge of a massive collateralised debt obligation....
A risk management review of Citi, revealed
That’s an old Valentine’s day letter — sent on February 14, 2008 — from John Lyons at the Office of the Comptroller (OCC) to Citigroup CEO Vikram Pandit....
World’s best bank (2006 vintage)
It has long been known that consulting firm Oliver Wyman crowned Anglo Irish the world’s best bank in 2006 — just when Anglo was actually… well, you know the story....
Greece as a CDO
One way to think about EFSF-financed Greek bond buybacks is as an informal exercise in a collateralisation and tranching of sovereign debt.An exercise, in short, in converting...
Goldman’s uneasy subprime short
In early 2007 Wall Street was in the early stages of the subprime crisis.Spreads on the ABX indices, which had become synonymous with the crisis, were falling. And Goldman Sachs...
CDO lemons, a government fruit bowl
‘Asymmetric information’ in Collateralised Debt Obligations is not a good thing.That much we know from Goldman Sachs’ Abacus 2007-AC1 CDO and, err, Goldman Sachs’...
UBSoiled all over again
Because the first 50-page report into shareholders’ subprime losses, released in April 2008, was not enough. UBS have now published a 76-page “Transparency report to...
