Posts tagged with: "abacus"
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21 Apr 2010, 4:40 pm
I'm a great admirer of Steve Waldman and I'm still trying to make up my own mind about Abacus so I pricked up my ears this morning when I'd heard he had weighed in to savage Goldman. [read post]
21 Apr 2010, 12:07 pm
According to the SEC, Goldman misled ACA into believing Paulson was a so-called equity investor in Abacus that wanted the mortgage securities — and Abacus — to perform well. [read post]
21 Apr 2010, 7:41 am
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]
21 Apr 2010, 6:52 am
ACA Chose and Had Every Reason To Choose Well The first relevant point that I believe Palm makes in his opening statement is that ACA, rather than Paulson, did, in fact, exercise independent judgment in choosing the ABACUS portfolio. [read post]
21 Apr 2010, 4:29 am
SEC Complaint The SEC complaint filed against Goldman Sachs and Fabrice Tourre alleged that they committed securities fraud by marketing a portfolio of mortgage backed securities to investors known as ABACUS 2007-AC1. [read post]
21 Apr 2010, 3:34 am
Paulson bet against the risk because it knew the ABACUS product was a pig. [read post]
20 Apr 2010, 9:45 am
Abacus was what it was. [read post]
20 Apr 2010, 9:42 am
The focus of the SEC’s claims center on a risky mortgage product called Abacus that Goldman Sachs sold to investors but allegedly did not disclose details about another client, Paulson & Company, that helped selected the underlying securities in Abacus and then bet against it to fail. [read post]
20 Apr 2010, 8:00 am
As with all trades, ABACUS 2007-AC1 required both a buyer (i.e. [read post]
20 Apr 2010, 7:28 am
The alleged misrepresentation to ACA by Goldman that Paulson was long the equity tranches of ABACUS and the omission to disclose to ABACUS investors in writing and orally that Paulson handpicked securities in ABACUS while it was simultaneously shorting the same securities are the crux of a potential claim by ABACUS’ investors against Goldman. [read post]
20 Apr 2010, 6:23 am
” Who at Goldman approved the Abacus deal? [read post]
20 Apr 2010, 5:06 am
The SEC’s complaint also includes potentially damning e-mails from Tourre about Abacus. [read post]
19 Apr 2010, 5:11 pm
District Court for the Southern District of New York, the marketing materials for the CDO known as ABACUS 2007-AC1 (ABACUS) all represented that the RMBS portfolio underlying the CDO was selected by ACA Management LLC (ACA), a third party with expertise in analyzing credit risk in RMBS. [read post]
19 Apr 2010, 4:01 pm
Investors in ABACUS are believed to have lost more than $1 billion. [read post]
19 Apr 2010, 12:44 pm
The name Goldman gave to its now-famous synthetic CDO deal - Abacus 2007-AC1 - sounds like a cute, cuddly robot from a Pixar movie. [read post]
19 Apr 2010, 11:14 am
I don't suppose it is too much of a stretch to infer that the reason that the SEC started its Goldman-hunt with the Abacus case is that it gave them an excuse to include what must be the mother of all dumb emails:"More and more leverage in the system, the whole building is about to collapse anytime now...only potential survivor, the fabulous Fab[rice Tourre]...standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding… [read post]
19 Apr 2010, 10:15 am
Updated with Goldman documents: Goldman Sachs, in lengthy defenses prepared for the Securities and Exchange Commission last fall, argued that it didn't mislead anyone in its Abacus mortgage investment. [read post]
19 Apr 2010, 8:08 am
The CDO in question was called Abacus 2007-CD1 ("Abacus 2007" or "CDO"), was backed by subprime residential home mortgages. [read post]
19 Apr 2010, 8:00 am
As the complaint notes: Tourre was principally responsible for ABACUS 2007-AC1. [read post]
19 Apr 2010, 7:04 am
When the housing market tanked, so, too, did Abacus. [read post]
