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“They’re Ba-ack!” – Citi Says Synthetic CDOs May Reach $100 Billion In 2017, 5x Increase In 2 Years

35-year-old Jia Chen of Citibank probably has no idea where that title quote above came from.  That’s because she was roughly 4 years old when Poltergeist II hit theaters back in 1986… …that said, Citibank, as we noted a few weeks back, has every confidence that Jia is the perfect person to put in charge […]


How Much Is Equity Research Actually Worth? Probably Less Than You Thought

Over the past several months, investment banks all across Europe have scrambled to put a price tag on their equity research after years of giving it way as a ‘freebie’ in return for trading commissions. Of course, for wall street’s titans of finance, you know, the same guys who will look you straight in the […]


Surging Windstream Spreads Remind Wall Street Why Synthetic CDO’s Are A Bad Idea

Just a couple of weeks ago, we wrote a post about Citibank and the 35 year old they recently put in charge of once again making the bank into a powerhouse in the Synthetic CDO market.  Less than a decade after being forced to take a taxpayer funded bailout to avoid an embarrassing bankruptcy filing, […]


“This Is The Craziest Mortgage Scheme I’ve Ever Seen”

Authored by Simon Black via SovereignMan.com, The Great Financial Crisis happened because Wall Street was financing homes for people who couldn’t afford them. Leading up to the GFC, there was a voracious appetite from investors for “AAA”-rated mortgage debt. So lenders would make lots of loans to subprime borrowers and sell them to Wall Street. […]


3 Uncommon Signs That An Economic Collapse Could Happen Soon

Originally published The Birch Gold Group, via Alt-Market.com, As stocks continue to climb and the U.S. economy sustains its third longest period of expansion in history, market forecasters are seeking clues for when our next crisis may strike. So far, three uncommon signals have them worried. Here’s an explanation of the three uncommon signs causing […]


Chris Whalen On The CDO-Redux & Inevitable “Catastrophic Systemic Risk Event”

Authored by Chris Whalen via The Institutional Risk Analyst, “The great wheel of circulation is altogether different from the goods which are circulated by means of it. The revenue of the society consists altogether in those goods, and not in the wheel which circulates them”   Adam Smith, 1811 This week in The Institutional Risk […]


S&P Wants You To Know They “Stress Tested” Subprime Auto ABS Structures And They’re “Very Stable”

The same firm that ‘assured’ us all back in 2006 that RMBS, CDOs, synthetic CDOs and CDO-squared structures were all very safe products and well deserving of their AAA ratings would now like for you to know that they’ve “stress tested” subprime auto ABS facilities and found that they’re “very stable.”  According to the Auto […]


Citi’s Bringing Back The Synthetic CDO…But In A Way That “Insulates It From Any Losses”

Less than a decade after being forced to take a taxpayer funded bailout to avoid an embarrassing bankruptcy filing, Citibank, proving that they learned precisely nothing from the so-called ‘great recession,’ has put a 35 year old in charge of once again making the bank into a powerhouse in the Synthetic CDO market.  But please […]