GLG News by Structured Finance Experts

Now that CDOs are being unwound there is some interesting information emerging about the scale and structure of the CDO market. It is becoming clear how big a part the structured credit boom played in keeping credit spreads so low for so long. More evidence is also emerging how the rating structure...

The problem with the survey is in the one detail that has been totally minimized and that would be the financing aspect for all the vultures waiting to pounce...

The current commercial real estate cycle is in some ways similar to what followed the 1986 Tax Reform Act, when the death of accelerated write-offs put many deals under water.  This down-cycle is similarly driven by the death of easy credit.  The difference today is in property fundamentals. ...

In the days following Lehman’s bankruptcy, it was widely predicted that the CDS settlement process would cause intolerable strains on the financial system. In fact, it seems to have been an orderly process, which should assert the robustness of the CDS market in the face of its most vehement critics....

Now that just about all those involved in commercial real estate agree the worst is yet to come, folks need to start looking ahead. For those that failed to heed the warning signs its too late to take corrective actions. For the rest, it’s a bit of wait and see, however, the mistake will be to try and...

This is not surprising.  GM/GMAC has been dealing with diminishing liquidity going back to the creation of Residential Capital Corporation in 2006.

1. Market is unpredictable and any analysis is obsolete even before it is completed. 2. Market is event based.

Sometimes you don't want to get what you've been hoping for.  Wachovia has a top deposit gathering franchise, and they clearly help complete much of the Wells Fargo footprint.

1. Greatest ever rescue bid under worst ever circumstances. 2. Challenging time or interesting times the reponse must be swift and on war footing to restore confidence to the people on the street.

When faced with unprecedented lack of confidence the public is flooded with statements from Executives across the Financial Sector comparing the recent downfall of their firms to natural disasters.  Natural disasters cannot in anyway be avoided.  The use of this egregious analogy only...