Be afraid: SEC names CDO "enforcer"
The SEC yesterday announced the names of the officials who will head its new Office of Market Intelligence
"Office of Market Intelligence" is a terrible name and likely to end up in a dust bin of other oxymoronic phrases such as "Long Term Capital Management"
Right, and I'll bet the promoted staffer can't explain how a CDO really works (joining the company of Bernanke, Geithner, Bair, Shapiro, Dodd, Frank, etc).
Instead of hiring one of the many unemployed CDO banker/structurer/rating analyst with real experience they promote a long-time staffer?
To make this required market efficient again, they simply need to agree in the terms of the CDS documentation, make it more like an insurance contract, end of story.. Instead of dancing around the bush wih these kinds of appointments!
i'm sure he has a detailed understanding of the market!
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Comment by: Anonymous. Posted 14 years ago [2010-01-18 15:04:33]