Relevant:
2008-07-02 — nakedcapitalism.com
``CDO managers may be seen as guys who created garbage and now want more money to sort out their own junk,'' said Roy Smith, a former Goldman Sachs Group Inc. partner who now teaches finance at New York University's Stern School of Business...
...
``Despite what's been said about CDOs, having a background with the securities is a positive,'' said Munish Sood, president of Princeton Advisory Group, the 12th-largest manager of CDOs composed of mortgage bonds in 2007 according to Standard & Poor's. ``We have experience managing the underlying mortgage assets, which is where we are seeing the opportunities.''...
Despite the ironies, they have a point. No one knows these beasts like the guys who kinda understood them!
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