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dajieda0 (November 30, 1999 at 12:00 am)
who is buying the super senior tranches (partially funded)?
victimofsleep (November 30, 1999 at 12:00 am)
Thanks for this!! It cleared up a little of my doubts. But I don't really understand when you were talking about partially funded porfolios.
blushing6 (November 30, 1999 at 12:00 am)
You can convert this to an mp3 at audiogetnow..com
TrillSk (November 30, 1999 at 12:00 am)
as always this is excellent.. between david harper and paddy hirsch who needs a formal education :P
pussyfever (November 30, 1999 at 12:00 am)
The explanation is for noobs. If you don't understand your PhD in garbage collecting is worth nothing.
Geotubest (November 30, 1999 at 12:00 am)
It does seem that people today want to slam anyone involved in credit derivatives. Credit derivatives have their place, but people got too cocky with them and bought into too many assumptions (eg. real estate prices will keep going up; low correlation assumptions; etc). How this market was not regulated in the first place is the same type of group think phenomena that led the US into the Iraq War.
fancychance57 (November 30, 1999 at 12:00 am)
explain in english.
bionicturtledotcom (November 30, 1999 at 12:00 am)
Just teasing. I don't disagree. Those who should be shamed, not taking a fiduciary seriously in the first place, don't know shame, unless forced by law, as you say. Credit derivatives are *not* bad, even the synthetics. They have a valuable role. The folks pushing these around, in many cases, were salespeople without concern for details. The CFP isn't the CFA; most CFAs (that i know) were not distracted here; e.g., they don't take agency ratings as the last word.
discosuks (November 30, 1999 at 12:00 am)
David, none of it is about me. My eyes were open. What it is about is a legal Ponzi scheme that was more about creating wealth than it was about spreading risk. Shame on anyone who ever had anything to do with synthetic credit derivatives. They are the cause of some of the worst finacial damage the world has ever, ever seen. Today the destruction continues, but the lawsuits will follow soon. The CFAs and CFPs who taught, recommended, or marketed these had better have their ducks in a row! |
