Posts tagged with: "abacus"
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30 Apr 2010, 5:00 am
SEC versus Goldman Sachs in Ten Seconds into the Future It is going to be hard for the SEC to establish that GS defrauded investors by its failure to disclose Paulson’s role and intentions in ABACUS. [read post]
28 Apr 2010, 3:57 pm
Newly revealed documents indicate that a now-defunct law firm, McKee Nelson, provided legal advice in helping Goldman set up Abacus, the structured investment at the heart of the SEC's case against Goldman. [read post]
28 Apr 2010, 3:26 pm
Among the hedge-fund clients was one run by the hedge fund manager (Paulson) who selected at least some of the mortgage securities for the Goldman CDO (Abacus). [read post]
28 Apr 2010, 2:33 pm
And I just think that the portrayal of Goldman’s behavior by Senator Levin, and by much of the media, is becoming an unhelpful mash-up of:- the SEC’s allegations in the Abacus case, which are plenty ugly, but are about a fraudulent failure to disclose, not about the firm's trading practices;- some people's belated discovery that there’s no law on the books giving investment banks a fiduciary obligation to clients;- genuine misunderstandings about industry lingo… [read post]
28 Apr 2010, 3:50 am
Now we get a glimpse of who was counsel on the toxic CDO “Abacus 2007-AC1? [read post]
28 Apr 2010, 2:31 am
(If IKB’s name sounds familiar, that is because it was one of the principal buyers in the now infamous Abacus transaction at the heart of the SEC’s action against Goldman Sachs.) [read post]
27 Apr 2010, 6:52 pm
Early in the Complaint, the Abacus CDO appears to be the security in question. [read post]
27 Apr 2010, 3:51 pm
While I am sympathetic to the view that Goldman Sachs is an incarnation of Cthulhu, I am still a bit baffled by the theory that GS had an obligation to disclose its short position on the abacus CDOs it was selling. [read post]
27 Apr 2010, 2:50 pm
Earlier this month, the SEC filed an enforcement action against Goldman, alleging it fraudulently misled investors in a CDO called Abacus by failing to disclose the important fact that the underlying securities were selected in part by a hedge fund client, Paulson & Co., that stood to gain if the securities declined in value. [read post]
27 Apr 2010, 2:47 pm
Sullivan & Cromwell and Schulte Roth & Zabel played smaller roles in Abacus deals. [read post]
27 Apr 2010, 8:03 am
But the (alleged) misconduct in the Abacus trade wasn't about the firm's trading positions; it was about playing games and keeping secrets. [read post]
27 Apr 2010, 1:56 am
The individual defendants engaged in a systematic failure to exercise oversight of the company's 23 Abacus transactions, which were completed over a three and half year period. [read post]
26 Apr 2010, 3:10 pm
Investors in the CDO, known as Abacus 2007-AC1, suffered losses of more than $1 billion, according to the SEC. [read post]
26 Apr 2010, 8:06 am
The Goldman pitchbook for the Abacus CDO is an interesting exercise in omission by misdirection. [read post]
26 Apr 2010, 2:16 am
The SEC alleges that as Paulson company representative and ACA, the portfolio selection manager, worked out which securities would be included in the Abacus CDO, the Paulson representative deleted eight mortgage backed securities that had been issued by Wells Fargo. [read post]
26 Apr 2010, 1:52 am
" Abacus: Sung to the Tune of "Springtime for Hitler"? [read post]
24 Apr 2010, 6:45 am
. . . all 196 pages of it, is here, via Felix Salmon. [read post]
23 Apr 2010, 8:26 am
Or maybe not.If you have time for only one Abacus post today.Qwest quest. [read post]
22 Apr 2010, 1:42 pm
According to this story from today’s WSJ, former Paulson & Co. executive Paolo Pellegrini informed ACA Management LLC that Paulson intended to short the ABACUS 2007 AC1 synthetic CDO. [read post]
21 Apr 2010, 5:15 pm
The article also reports that several Goldman employees claim the firm bought insurance against losses in the Abacus portfolio, and thus did not suffer net losses. [read post]
