Collateralized debt obligation
Collateralized debt obligations (CDOs) are a type of structured asset-backed security (ABS) whose value and payments are derived from a portfolio of fixed-income underlying assets.
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Back in December, the New York Times ran a story about Goldman and some collateralized debt obligations they underwrote. Turns out the CDOs, which were constructed by pooling together other bonds, performed badly. Really, really badly.
Published on Monday 22nd of March 2010 12:40:04 AM
Posted by admin! / Under Collateralized Debt Obligation
The market for collateralized debt obligations backed by high-yield, high-risk loans is poised to open in the U.S. for the first time in a year after losses on mortgages prompted investors to flee bundled securities.
Published on Monday 22nd of March 2010 12:40:04 AM
Posted by admin! / Under Collateralized Debt Obligation
Just as it did with mortgages in the U.S., Goldman in effect bet against the collateralized Greek debt obligations. The basic issue is the same.
Published on Monday 22nd of March 2010 12:40:04 AM
Posted by admin! / Under Collateralized Debt Obligation
Financial innovation is not like any other kind of innovation in our economy. If you create a new IPod and it goes sour, it hurts Apple. Create a synthetic collateralized debt obligation that goes south, you crash the world economy.
Published on Monday 22nd of March 2010 12:40:04 AM
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Stamp Act: tax was imposed by Britain on the American colonies; it raised intense opposition (1765)
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