Links: Defusing Structured Credit Bombs and Distorting Credit Default Swap Indexes (CDX)

From the movie 'Margin Call'
Former head of structured credit: 'We saw numbers behave in ways barely conceived possible' (The Joris Luyendijk Banking Blog - Guardian)

JPMorgan Trader Iksil’s Heft Said to Distort Credit Indexes (Bloomberg)

'London Whale' Rattles Debt Market (WSJ)

JPMorgan Trader Accused Of "Breaking" CDS Index Market With Massive Prop Position (Zero Hedge)

Hedge funds and the Whale, credit index edition (FT Alphaville)

Synthetic CDO’s – When Risky Isn’t Risky – Or Free Equity (TF Market Advisors)

While I'm linking, read this: The Market’s Obsessive Fixation on The Fed & QE (Economic Musings)

Related:

The ‘Subsidy’: How a Handful of Merrill Lynch Bankers Helped Blow Up Their Own Firm (ProPublica)

Banks’ Self-Dealing Super-Charged Financial Crisis (ProPublica)

The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble Going (ProPublica)

Uh oh! Is the CDX.NA.IG index the next Paulson trade? The black swan of all black swans?


Comments

  1. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aW5vEJn3LpVw  

    Banks Sell 'Toxic Waste' CDOs to Calpers, Texas Teachers Fund

    ReplyDelete
  2. And ladies and gentleman, look what happend!

    London Whale took big bets below the surfacehttp://www.reuters.com/article/2012/05/11/us-jpmorgan-iksil-idUSBRE84A12620120511[JPM Whale-Watching Tour] Too Big To Hedgehttp://ftalphaville.ft.com/blog/2012/05/11/996131/too-big-to-hedge/[JPM Whale-Watching Tour] What position transparency?http://ftalphaville.ft.com/blog/2012/05/12/997121/what-position-transparency/

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