GLG News by Asset Backed Securities Experts

Considering the current fall-out in Commercial Lending with the big banks (most of which were deservingly so), such as Wachovia, Chase, and Bank of America, the Credit Union field has such great opportunities to grow their market-share if they just decided to move into the 19th Century, instead of living...

If the agents of the US government, Bernanke from the Fed and Paulson from the Treasury, intervene in the functioning of the capital markets as financial excesses unwind, they might create more problems, such as unwittingly making mortage credit more expensive as investors shun them if interest...

By modifying terms of financial contracts, such as turning negative equity mortgage contracts into positive ones by forgiving mortgage principal owed, or changing interest rate terms on them, the US government (Fed and Treasury) will unwittingly make mortgage credit even more expensive as mortage investors shun...

The Economist recently described specific events that would lead one to believe that the U.S. Economy is already in the throws of a recession, yet the nay-sayers (including our illustrious President) state that there is still some signs of life negating this apparent event. I feel that like the 90's,...

Simply, writedowns do not overstate the extent of problems at financial firms.  Yes, ultimately the coming "correction" will be overdone (given human nature, most are), but we just getting started (that is, expect a long, sharp recession) -- so things are going to get much ...

Six months ago, BaFin President Jochen Sanio warned that the "worst financial crisis since 1931" was unfolding.  Simply, I concur.

Like clockwork, you should expect to see these CDO induced writedowns to occur going forward for investment banks. One of the key reasons is the untold story in all these news: the rapid devaluation of non-rated CDO bonds (NR tranches) held at all these financial institutions that indulged in CDO making...

More bad news could pave the way for further buy-ins by foreign investors, such as the Qatar Investment Authority.  "The final determination of these reductions will depend on further results of our review and continuing market developments," the bank said.  Read: Expect more bad news. ...

Morgan's stock will continue to decline.

I agree with the bet being made in the short direction on the credit crunch, although it seems that there is not much downside left with the usual target (the ABX HE index) that even Deutsche Bank used to make its profits recently. The credit crunch is not uniform. Some short vehicles...