Private bank buys CDO manager
Daily News, 5 September 2008
ECB announces new haircuts for ABS and higher rating transparency
Daily News, 5 September 2008
AIG may spin off troubled assets, reports New York Post
The New York Post reports that AIG is considering splitting off its "toxic" exposures - presumably its portfolio of CDOs of ABS - into a separate company [more...]
News Digest, 5 September 2008
Lehman CDS gaps in on tooth fairy news (only joking)
A spoof new item which is currently circulating by email seems to be casting aspersions of the quality of CDOs and other level III assets held by Lehman Brothers [more...]
News Digest, 5 September 2008
Former Contrarian Capital manager plans credit fund, reports New York Post
The New York Post reports that Stephen Czech, a former portfolio manager at Contrarian Capital Management, plans to raise about $1 billion to start his own fund [more...]
News Digest, 4 September 2008
ACA monoline accounces new management
ACA Financial Guaranty, the monoline insurer which is now controlled by a group of its former counterparties, has announced that it has appointed new management [more...]
News Digest, 4 September 2008
Former Credit Suisse brokers face fraud charges
Former Credit Suisse brokers Julian Tzolov and Eric Butler have been indicted on securities fraud charges, in what looks to be the first criminal charges arising from the recent auction-rate securities market freeze [more...]
News Digest, 4 September 2008
Monoline discloses new losses as it announces split
Daily News, 3 September 2008
CIFG has told regulator it is insolvent, reports Wall Street Journal
Daily News, 3 September 2008
CIFG announces deal with counterparties to reduce CDO exposure
CIFG says move help satisfy rating agency requirements for investment grade level. [more...]
News Digest, 3 September 2008