More nonsense from Congress about user-pay credit ratings: “We are not going to correct this problem if in the future they can let us down again by the user paying the ratings agency for the …
Search Results for: performance
July 13, 2009
CIT has hired a bankruptcy specialist: CIT Group Inc., the century-old lender to 950,000 businesses that has been unable to persuade the Federal Deposit Insurance Corp. to guarantee its debt sales, hired bankruptcy specialist Skadden, …
July 10, 2009
Bloomberg has a little more speculation regarding the CIT death-spiral: The Federal Deposit Insurance Corp. is unwilling to guarantee CIT Group Inc.’s bond sales because the commercial lender’s credit quality is worsening, according to people …
July 9, 2009
Bradford & Bingley is defaulting on its sub-debt: — Bradford & Bingley Plc’s failure to pay interest on some of its subordinated bonds will trigger settlement of credit-default swaps linked to about $414 million of …
July 8, 2009
The New York Fed has announced: RBC Capital Markets Corporation has been added to the list of primary dealers, effective July 8, 2009. … and note … Primary dealers are banks and securities broker-dealers that …
July 7, 2009
Treasury is going to avoid voting its shares in companies that received TARP funds: On many resolutions offered by investors — from demanding pro- environment policies to allowing domestic partner benefits to reining in executive …
July 6, 2009
Willem Buiter wants to clamp down on CDS trading: CDS provide an example. Just as short selling equity is potentially efficiency enhancing but naked short selling is just gambling, so insuring credit default risk is …
July 3, 2009
The FDIC – which shut down a boatload of banks yesterday – has published draft rules for private equity buyers interested in sniffing around the assets. Very, very stringent, and at first glance, I have …
July 2, 2009
Interesting news from Peru today: IShares, the world’s biggest provider of exchange-traded funds, reached an agreement with Peru’s pension funds that will increase the assets of the first Peruvian exchange traded fund in the U.S., …
MAPF Portfolio Composition: June 2009
Trading activity increased in June, with portfolio turnover of about 130%, as the market extended its gains. Trades were, as ever, triggered by a desire to exploit transient mispricing in the preferred share market (which …