Remember those toxic CDOs? They're finally starting to turn a profit, but banks - desperate to...

|By:, SA News Editor

Remember those toxic CDOs? They're finally starting to turn a profit, but banks - desperate to free up capital - are trying to unload them. Even banks on firm footing are sellers as they can't justify the large amount of capital needed to hold against them when shareholders are angling for buybacks and dividends. Can a CDO manager like Newcastle (NCT) benefit from the fire sale?