Cdos Famous Quotes & Sayings

10 Cdos Famous Sayings, Quotes and Quotation.

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March 2008 the stock market had finally grasped what every mortgage bond salesman had long known: Someone had lost at least $240 billion. But who? Morgan Stanley still owned $13 billion or so in CDOs, courtesy of Howie Hubler. The idiots in Germany owned some, Wing Chau and CDO managers like him owned someMichael Lewis Cdos Sayings By Michael Lewis: March 2008 the stock market had finally grasped what every mortgage bond salesman had long
The risk was spread across the globe from American state pension funds to public health networks in Australia and even to town councils beyond the Arctic Circle. In Norway, for example, the municipalities of Rana, Hemnes, Hattjelldal and Narvik invested some $120 million of their taxpayers' money in CDOs secured on American subprime mortgages.Niall Ferguson Cdos Sayings By Niall Ferguson: The risk was spread across the globe from American state pension funds to public health
agencies began to downgrade scores of RMBS CDOs (short for 'residential mortgage-backed security collateralized debt obligations', the very term testifying to the over-complex nature of these products).Niall Ferguson Cdos Sayings By Niall Ferguson: agencies began to downgrade scores of RMBS CDOs (short for 'residential mortgage-backed security collateralized debt
that Wall Street was propping up the price of these CDOs so that they might either dump losses on unsuspecting customers or make a last few billion dollars from a corrupt market.Michael Lewis Cdos Sayings By Michael Lewis: that Wall Street was propping up the price of these CDOs so that they might
The moment Salomon Brothers demonstrated the potential gains to be had from turning an investment bank into a public corporation and leveraging its balance sheet with exotic risks, the psychological foundations of Wall Street shifted, from trust to blind faith. No investment bank owned by its employees would have leveraged itself 35:1, or bought and held $50 billion in mezzanine CDOs.Michael Lewis Cdos Sayings By Michael Lewis: The moment Salomon Brothers demonstrated the potential gains to be had from turning an investment
From the end of 2005 until the middle of 2007, Wall Street firms created somewhere between $200 and $400 billion in subprime-backed CDOs: NoMichael Lewis Cdos Sayings By Michael Lewis: From the end of 2005 until the middle of 2007, Wall Street firms created somewhere
Alas, this was an open invitation to print one's own money! No wonder Warren Buffet took one look at the fabled CDOs and describedYanis Varoufakis Cdos Sayings By Yanis Varoufakis: Alas, this was an open invitation to print one's own money! No wonder Warren Buffet
Then resold their loans in bulk to Wall Street banks. The banks, in turn, bundled the loans into high-yielding residential mortgage-backed securities (RMBS) and sold them on to investors around the world, all eager for a few hundredths of a percentage point more return on their capital. Repackaged as collateralized debt obligations (CDOs), these subprime securities could be transformed from risky loans to flaky borrowers into triple-A rated investment-grade securities.Niall Ferguson Cdos Sayings By Niall Ferguson: Then resold their loans in bulk to Wall Street banks. The banks, in turn, bundled
This is part of the reason that the AIG bailout is so troubling: when at least $13 billion worth of taxpayer money given to AIG in the bailout ultimately went to Goldman, some of that money was doubtless going to cover the bets Goldman had made against the stuff the bank itself was selling to old people and cities and states. In other words, Goldman made out on the housing bubble twice: it fucked the investors who bought their horseshit CDOs by betting against its own crappy product, then it turned around and fucked the taxpayer by making him pay off those same bets.Matt Taibbi Cdos Sayings By Matt Taibbi: This is part of the reason that the AIG bailout is so troubling: when at
Beginning in the 1980s, electronic trading detached the buyer from the seller, complex derivatives insulated the investor from the company, CDOs sequestered the lender from the borrower - in other words, the decade constructed a system that allowed us to rip each other off without fear of having to look at the ramifications of our actions.David Sirota Cdos Sayings By David Sirota: Beginning in the 1980s, electronic trading detached the buyer from the seller, complex derivatives insulated