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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: CDO

CDO stories: 5 news summaries

Profits Were Fake, Bonuses All Too Real

How risky schemes
left bankers flush, banks broke

Dec 18, 08 8:36 AM CST
(Newser) - Dow Kim was one of the leading bond traders at Merrill Lynch, and in 2006 he bundled together $500 million in loans into a huge CDO with the charming name Costa Bella. Since the subprime collapse, Costa Bella has cost Merrill millions—but Kim had already cashed out, awarded a... More »

MORE ABOUT:
executive compensation • Merrill Lynch • CDO • bonuses • mortgage backed securities • compensation • collateralized debt obligations • financial crisis

analysis

Merrill Panic May Mark Bottom of Stock Market

Once regaled for cavalier confidence, CEO's chief cuts losses

Aug 1, 08 10:30 AM CDT
(Newser) - Merrill Lynch CEO John Thain has seen better days, Floyd Norris writes in the New York Times. He's gone from “cockiness to capitulation. Distinction to desperation.” Thain recently unloaded a bundle of his company’s securities for 22 cents on the dollar and raised $8.5 billion from... More »

MORE ABOUT:
Merrill Lynch • CDO • mortgage debt • mortgage backed securities • John Thain • financial sector • subprime crisis • stock offering • banking industry

Lone Star Buys Big at Mortgage Fire Sale

Texas fund grabs $6.7B in Merrill castoffs, is hungry for more

Jul 30, 08 11:48 AM CDT
(Newser) - Lone Star Fund is looking to profit from the castoffs of the credit meltdown, buying billions of marked-down assets and betting on just some of them to rebound, reports the Wall Street Journal. The Dallas-based private-equity firm run by John Grayken has closed a deal on $6.7 billion in... More »

MORE ABOUT:
Merrill Lynch • CDO • Lone Star • mortgage debt • private equity firms

Northern Rock: Post Mortem of a Spectacular Fall

Reckless play on global stage brought 'Northern Wreck' to its knees

Mar 20, 08 1:49 PM CDT
(Newser) - The collapse of Northern Rock, Britains third-largest lender, was "the messiest banking crisis in the Western world resulting from the global credit crunch,'' a UK lawmaker tells Bloomberg in a post mortem of the disaster. “They really screwed it up,” said one analyst of the bank’... More »

MORE ABOUT:
CDO • credit crisis • Northern Rock • Bank of England • Adam Applegarth • subprime crisis • bank failure • financial crisis

SEC Opens Subprime Probe

Cox announces investigations into
CDOs in wake of
Bear Sterns tremors

Jun 27, 07 2:17 PM CDT
(Newser) - The feds are investigating the controversial bundles of financial services that have recently shaken the market and sparked a spate of leveraged buyouts, the Journal reports. SEC chief Christopher Cox told a congressional panel yesterday that "about 12 investigations" were under way into CDOs, shared debt packages reliant on... More »

MORE ABOUT:
investigation • subprime mortgages • leveraged buyouts • Bear Stearns • finance • SEC • hedge fund • market • Christopher Cox • CDO

5 Stories


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