View Full Version : CHART OF THE DAY: Now YOU Can Understand How The Goldman Abacus Deal Worked
bobbyw24
04-20-2010, 01:34 PM
Confused about this Goldman Sachs (GS) Abacus deal you've been hearing about?
Don't be.
It's really pretty simple
http://static.businessinsider.com/image/4bcdd0577f8b9ae30c860200/chart-of-the-day-abacus-2007-ac1-structure.gif
HOLLYWOOD
04-20-2010, 02:27 PM
Wasn't it Deutsche Bank and Goldman Sachs that started shorting all the real estate AND commercial crap starting back in 2006?
Slowly but surly, they "Quietly" started selling and shorting the overblown, overinflated, worthless paper... they almost got completely out, but even the bad stuff they were holding, got with Uncle Sugar to engineer a laundered bailout of the shit through intermediaries and secondaries. AIG/FED/etc...
http://www.scribd.com/doc/26448553/Bailout-Nation-How-Greed-and-Easy-Money-Corrupted-Wall-Street-and-Shook-the-World-Economy
Reason
04-20-2010, 02:57 PM
sigh
Cowlesy
04-20-2010, 03:01 PM
SEC casually leaves out that ACA Capital ALSO purchased ABACUS 2007-AC1 cdo's along with IKB.
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