Relevant:
- The Magnetar Trade: How One Hedge Fund Helped Keep The Bubble Going
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- Emails Give Glimpse Into Deals That Fueled Financial Meltdown
- Emails Give Glimpse Into Deals That Fueled Financial Meltdown
- Which CDOs and Banks Had Deals With the Most Cross-ownership?
2010-04-11 — propublica.org
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From the middle of 2006 to the summer of 2007, Magnetar helped to create and invested in at least 28 subprime mezzanine CDOs, or collaterized debt obligations, deals it often bet against while also pushing for riskier assets to go inside them. The black circles below represent the amount in dollars of their identified deals by month while the blue circles represent the total amount in dollars of the same type of subprime CDOs issued during that time. ''
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itsMuck at 23:15 2010-04-11 said:
Magnetar used a wide range of Wall St banks and consultants to package these securities together. And yet almost every single one was then sent to the Irish Stock Exchange for listing. If you LITERALLY sent a steaming turd in a jiffybag to the Irish Stock Exchange and told them it was a "prospectus" they would list it for ya Approx USD $1.18TRILLION of CDO and Sub Prime rubbish was parked on the Irish Stock Exchange by Lehmans / Goldman / Bear Stearns / Merrill etc where it was hoped they could avoid scrutiny. Magnetar FundsListing Libra http://www.ise.ie/app/specSecList.asp?action=SEARCH&search_word=libra&x=0&y=0 Pyxis http://www.ise.ie/app/specSecList.asp?action=SEARCH&search_word=pyxis&x=3&y=5 Octans http://www.ise.ie/app/specSecList.asp?action=SEARCH&search_word=Octans&x=0&y=0 MKP Vela http://www.ise.ie/app/specSecList.asp?action=SEARCH&search_word=MKP+Vela&x=11&y=1 CETUS http://www.ise.ie/app/specSecList.asp?action=SEARCH&search_word=cetus&x=0&y=0 Ireland consequently has the worlds seventh highest external dept at USD $2.3TR but most of it is made up of the nominal value of these securities that trade at pennies in the dollar on some murky secondary markets right now. Permalinkadd a comment | go to forum thread
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