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Tag Archives: CDO

Mad meat… how securitized lending collapsed the financial system

Mad meat! how securitized lending collapsed the financial system View more presentations from catelong.

AIG’s CDO stuffing

William Cohan, author of “House of Cards” and a Bloomberg Television contributing editor, talks with Deirdre Bolton and Erik Schatzker about how collateralized debt obligations helped drive American International Group Inc. to the brink of disaster. Also today the Federal Reserve released the details of the Maiden Lane holdings… which includes the dreck described in […]

Baby steps for transparency… S&P to use identifiers on structured finance ratings

Standard and Poor’s will begin using an identifier to distinguish between their ratings on structured finance products and other ratings… this is a good step forward for the markets… (H/T Credit Risk Chronicles) ~~~”As market participants will be aware, under the European Regulation on Credit Rating Agencies (Regulation (EC) No 1060/2009) in force from December 2009 (the […]

Proof of Trillin’s thesis

~~ OMG… Bird and Fortune prove Trillian’s thesis… and a few commonly held beliefs… (HT ZeroHedge) Link to Bird and Fortune video at the Financial Times…

Conflict supposition

~~~~”McDaniel this month defended the credit raters’ issuer-pay model at an SEC roundtable in Washington, saying that investors can pressure ratings companies just as easily as underwriters….”*~~~~ This will become the central argument in defense of the “issuer pay” model for credit ratings agencies…. The SEC receives information from credit rating agencies as part of […]

2005 cohort

From my comments to the SEC on raters…. Is the proposed application of the rule to prospective credit ratings, i.e., credit ratings that are initially determined on or after June 26, 2007, appropriate and do commenter’s believe it would provide meaningful information if the rule was limited to credit ratings made on or after that date? […]

Toxic asset primer

Toxic assets from Marketplace on Vimeo.

America doesn’t trust you anymore

Representative Michael E. Capuano (D-Mass) shared his anger about the disaster our financial system has become at the House Financial Services Committee hearing today… he addressed the bank leaders who were the prime creators of the crisis… he told them that “America doesn’t trust you anymore” for creating CDOs, CDS, SIVs… this chorus will grow louder… (Running […]

Possibilities for the way forward

Good Bank vs. Bad Bank – Analysis and Discussion with Janet Tavakoli of Tavakoli Structured Finance Running time = approx. 7 minutes

Free markets made America strong

The SEC Chairman wrote in the Wall Street Journal today about the force of free markets and regulation. I hope that he continues to sing this song… (see his opinion piece after my comments…) I say similar things a little less diplomatically … I think history will look back at the actions of the Federal […]