Hints and tips:
...Funding III, which was comprised of securities tied to home mortgages....
...Funding III, and had placed a bet against it....
...The SEC alleged that Citi was negligent in failing to tell investors in a $1bn CDO – known as Class V Funding III – that the bank had helped to select $500m of mortgage assets that went into the security...
...The WSJ reported in September that the SEC was sniffing around Citigroup’s creation of Class V Funding III. Pro Publica has a copy of the CDO prospectus here. No mentions of “dogsh!t”....
...Viral V. Acharya teaches at the Stern School of Business at New York University and is co-editor of forthcoming book “Regulating Wall Street”....
...Such ease of mortgage funding allowed thousands of borrowers to get away with fraudulently mis-stating their incomes, often with the encouragement of their brokers....
International Edition