Waiting Out

A Proposal on Transforming CDSs: Credit Insurance Trust

How does this differ from the system at Lloyd's of London, with the "names" substituted by your licensees?

Why Goldman Sachs Was Short CDOs

There was a very impressive piece in late 2006/early 2007 in the Fortune magazine. It interviewed Lloyd Blankfein of Goldman Sachs when he took over from Paulson. The new CEO then talked about not able to sleep at night for "Risks". He did not say what those risks were, but it kept him awake and he was actively managing it. It did not mean much then. However, since August it has become clear what those risks were. Good piece of management from Goldman's top. However, the question is why the other CEOs were not "awake". They were intoxicated by the profits from the CDO, CLOs, RMBS, subprimes, liar-loans, and clearly a lot of prime interest only loans.

Still waiting in the Silicon Valley to buy.