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The contrarian addiction

…protects the public from food-borne illnesses. It issues nutritional advice and drug labeling guidelines. It polices false medical claims on packaging and in advertisements. It safeguards about one in every…

Former Sen. Gramm retires from UBS

…what looked like easy-money guarantees. Then it all came tumbling down with the realization that the huge mortgage loan securitization industry and the CDOs, CDO-squared, and CDO-cubed transactions were filled…

Goldman’s Settlement with the SEC

…in an Abacus CDO deal, acknowledging that its materials were “incomplete”. See Chan & Story, Goldman Pays $550 Million to Settle Fraud Case, NY Times (July 15, 2010). Goldman sold…

Financial Arsonist Found ?

CDOs. Magnetar clearly used the revenue from their equity tranches to invest massively in CDSs. They claim they were net losers when all but one of the CDOs which they…

Mr President meet Mr Buffet

Robert Waldmann The logic of the new Geithner plan is that CDO’s can be bought for less than their hold to maturity value because of panic and the fact that…