TITLE

Reversal: Junior Slices of CDO Paid First

PUB. DATE
November 2009
SOURCE
American Banker;11/16/2009, Vol. 174 Issue 206, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the financial services industry firm Goldman Sachs Group Inc. paid off at face value junior-ranking sections of collateralized debt obligations (CDO) rather than more senior classes of the derivative securities which are considered likely to default as a result. The company's motivation for the unusual decision is unclear.
ACCESSION #
45211482

 

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