Goldman Sued Over Abacus Deal, Again
This time by ACA. ACA Financial’s lawsuit, filed in the Commercial Division of the Supreme Court of the State of New York, alleges fraud and unjust enrichment in the matter. Goldman “developed and sold...
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Company That Helped Goldman Build Terrible CDO Loses Lawsuit Over The Result
Everyone knows the story of Abacus 2007-AC1 by now: Goldman Sachs sold some mortgage-backed-security CDOs to some people, and those people thought that the underlying mortgage-backed securities were...
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SEC Doesn’t Want Fabrice Tourre Telling A Jury That The Guys He Ripped Off...
Fabulous Fab Tourre is on his way to trial in the SEC’s securities-fraud lawsuit over the Abacus synthetic CDO he built at Goldman Sachs for John Paulson, and Andrew Ross Sorkin has a column today...
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Fab Tourre’s CDO Deal Wasn’t Complicated Enough
If you wanted to short the housing market in 2007 you could just buy protection on mortgage-backed securities via a synthetic CDO, and that’s what John Paulson did in the Abacus deal, for which Goldman...
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Fabulous Fab Really Wanted To Get Abacus Done
Fabrice Tourre testified in his SEC trial late last week and many perplexing things came out, with the most perplexing being a tie between: Fab’s claims that the key disputed email, in which he...
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UBS Ripped Off Some Synthetic CDO Investors Because That’s Just What You Did...
The SEC settled a little crisis-era CDO fraud case with UBS today and the fraud is pretty entertainingly shitty. Basically UBS provided the warehouse for a synthetic CDO where the notorious ACA was the...
View ArticleInsurance Companies Can Find Relief During Delay of Loss Reimbursement
Ed. note: This is a sponsored article by Lake Whillans. Lake Whillans is providing financial […]
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