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...Before the 2008 financial crisis, bankers were the undisputed kings of the financial hill, making markets, taking risks and cooking up complex financial products such as CDOs, CLOs and MBSs (collateralised...
...Veteran CDOs say the job has the highest rate of turnover in the C-suite....
...[even] stronger, 10 years later, than they were going into the crisis,” says Bob Steel, the US undersecretary for domestic finance from October 2006 until July 2008....
...Take Acacia Mining, which is embroiled in a tussle over exports with the Tanzanian government and which lost its chief executive and finance director last week....
...A decade ago, investors tried to manufacturer higher returns with products like collateralised debt obligations, or CDOs....
...“Steve Jobs once told me: “You’ve got to be 10 times bigger than you are today in 24 months.”...
...The resurgence of special purpose acquisition companies (SPACs) continued in 2015, with 20 SPACs pricing, compared to 12 in 2014 and 10 in 2013....
...But Citi analysts say less than 10 per cent of gold companies worldwide could generate cash at current spot gold prices, while warning that improvements in cost cuts could be “unsustainable”....
...Mr Gerspach said protection from future government CDO cases was a “very, very” important part of the deal, noting that Citi had been one of the top structurers of CDOs before the crisis....
...Average trades have two-year terms instead of the 10-year deals that were common before the crisis....
...For example, a $10 million investment was leveraged 10 or 20 times into a tranche with a notional of $100 million or $200 million....
...Although the events occurred nearly 10 years ago, Sivere still feels their effects....
...(Financial Times) SEC officials won’t recommend civil charges be filed against Magnetar Capital, the Illinois hedge fund involved in creating dozens of CDOs....
...The judge warned lawyers to avoid complex financial vocabulary in the case, which concerns the synthetic CDO Abacus 2007-AC1....
...Aluminium is in this way being transformed into a new type of CDO....
...(Wall Street Journal) JPMorgan and Morgan Stanley are designing new synthetic CDOs....
...Before the financial crisis, vehicles called collateralised debt obligations (CDOs) bought bonds issued by other special purpose vehicles, then CDOs-squared bought the bonds issued by CDOs....
...-based DairyAmerica Inc. narrowed to 14% from 20% in the previous auction two weeks ago.”...
...Financial Times) National Australia Bank filed a $230m arbitration claim against Goldman Sachs: People familiar with the matter said the claim, filed with Finra in December, relates to Hudson 1, a $2bn CDO...
...(Financial Times) - The US vs S&P on CDO ratings. (Bloomberg) - Berkshire’s BNSF Railway considers switch to natgas. (Wall Street Journal) - China seeks to apply some of US shale success at home....
...Korean banks get only 10 per cent of revenues from overseas business....
...From Berkshire’s 2010 10-K: Where are the quantos? Not broken out perhaps....
...(Bloomberg) - Who’s responsible for the CDO rating mess? (Wall Street Journal) - Prince Alwaleed sells his A380....
...- Mitt Romney claims that he never paid less than 13 per cent of income on taxes in the past 10 years. - Also, see the Tax Policy Center’s note on Romney’s tax proposals....
...What happened then was understandable: a sudden shortage of quality collateral hit the system as alternative forms of collateral (MBS and CDOs) became ostracised....
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