Hints and tips:
...Similarly, bankers at UBS, Citi and Merrill Lynch told me in 2008 that one reason why the dangers around repackaged subprime mortgage loans were ignored was that these instruments had supposedly safe triple-A...
...The JPMorgan banker-turned-exchange boss turning noodles into securities In modern capitalism, you can securitise all sorts of things — mortgages, the loans backing private equity buyouts, car loans, even...
...In December, CSPI, a Hong Kong-based credit rating agency, assigned preliminary “A” ratings to a proposed loan backed by DROs....
...At the Sohn investment conference in London on Wednesday, Block said he is shorting Blackstone Mortgage Trust, a publicly traded real estate investment trust Blackstone took control of a decade ago as it...
...When others were losing their heads, he loaded up on risky assets. The formula worked. By 2007, his team oversaw tens of billions of dollars....
...In early 2007, Merrill Lynch, which was trying to break into wealth management and banking, paid $1.8bn to acquire First Republic....
...Together, BlackRock and Merrill Lynch Investment Managers would constitute a colossus with almost $1tn of assets under management. MLIM executives were divided on the acquisition....
...Merrill Lynch....
...Bronwyn Curtis, chair at JPMorgan Asian Investment Trust: No....
...He has likened MERS to the Depository Trust & Clearing Corp, the securities clearing house owned by banks that long dealt in paper share certificates....
...Lynch....
...The Paces were among 10,507 borrowers whose home loans Countrywide packed into a set of securities called the CWABS Asset-Backed Certificates Trust 2005-11....
...No longer did banks’ lending officers decide on loans for businesses or mortgages; those decisions instead rested in the markets for mortgage-backed securities, corporate paper and junk bonds....
...Tom Marano: Global head of mortgages and asset-backed securities at Bear. Various roles at GMAC/Ally Financial from 2009 to 2013, after a year at Cerberus. Then ran a ski-resorts company....
...Crisis-era mergers, such as Barclays’ assimilation of the US arm of Lehman Brothers, JPMorgan’s purchase of Washington Mutual and the Bank of America-Merrill Lynch deal, have left the surviving banks with...
...When you realised Bank of America and Merrill Lynch would have to be bashed together overnight, that Goldman was potentially going to have to be rescued . . . can you imagine? Goldman Sachs?...
...Issuance of securitised assets rose 61 per cent in the first half of this year and could climb to $170bn for the full year, according to research by Bank of America Merrill Lynch....
...“Trust has to be built with investors,” he says. “They’re watching us closely.” Some of the big names on Wall Street have already tiptoed back in....
...Another hugely popular sector is those funds focused on providing an income — either through dividends or some form of asset-backed lending....
...If the loans default, the Frankfurt-based bank could in theory go after Mr Trump’s other assets....
...At its peak in the middle of 2007, Deutsche claimed the title of the world’s biggest bank, amassing total assets of close to €2tn....
...It was meant to be a safe bet as most of its assets were residential mortgage-backed securities issued by Fannie Mae and Freddie Mac....
...There’s a mixed picture for investors. Inflation means asset-backed sectors such as infrastructure and property are in favour, although high demand is likely to lessen returns....
...Around 40 per cent of those were mortgage-backed securities — Commerce’s 2007 annual report claims none were backed by subprime mortgages....
...(The first three were DLJ, Merrill Lynch, and Paine Webber.) A) 1960 B) 1970 C) 1980 D) 1990 B) 1970 27. Goldman Sachs was the last of the major investment banks to go public....
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