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blueblaze posted:I'm sorry this is a vague question. But I have a friend who is a "Director" of Financial Products (I think) at a Canadian bank. How big of a deal is this? As Thoogsby said, it's the position between Managing Director (higher) and VP (lower). Some banks have it labeled as Exec Director. Its basically on the higher end of middle management.
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May 17, 2011 01:25
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Thoogsby posted:It was technically the U.S. Government that invented the mortgage backed security, not bankers. The banks just took it and made it wildly profitable and wholly dangergous. Lew Ranieri and Saloman disagree with you. Also (not directed at you), I find it pretty useless to try and assign blame for the crisis. Between the banks, the government, the (useless and corrupt) ratings agencies, and to a lesser extent the insurers every group played a crucial role, they were all enablers. Everyone made it worse, and everyone is at fault. It just seems like politicking to me to go much deeper than that.
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Jun 16, 2011 02:23
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Thoogsby posted:Lew invented securitization, not MBS. Per All The Devils are Here (which everyone should read) True, but he also innovated them and was essentially the reason they became so widespread. If I recall, wasn't one of the major stumbling blocks the prepayment risk, which he got around by breaking them up into tranches?
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Jun 16, 2011 02:40
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Thoogsby posted:Yes, but the tranching development is usually attributed to Larry Fink at First Boston who was the founder and current CEO of BlackRock. You're right, its been a while since I read Liar's Poker, which I was trying to recall.
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Jun 16, 2011 03:05
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Senphet posted:Any new Analysts getting ready to go to NYC for training? Any thoughts from those who have been through it... I've heard it's relatively relaxed and just a good chance to meet people. Just don't be this guy. Although everyone here did think it was hilarious.
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Jul 7, 2011 01:40
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realqueenbetty posted:So about what percentage of i-bankers -- in particular the Manhattan ones -- are as gross as the ones who comment on Dealbreaker posts? Oh come on, I enjoyed: "Soveriegn wealth funds are not strict about CDO's, so if you have a fake you will be fine."
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Jul 7, 2011 04:06
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I plan on taking this moment to say "gently caress you Jon Corzine, and good riddance MF Global."
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Oct 29, 2011 03:38
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