Collateralised debt obligations - CDO managers under scrutiny

Credit Risk


The long bull run in the global credit markets has facilitated the development and growth of the now massive cash collateralised debt obligation (CDO) market. Benign credit conditions, combined with investors' unceasing hunt for yield, have propelled the CDO market to new heights, with $481 billion in paper outstanding as of the end of 2006, according to research from Dresdner Kleinwort. With this exponential growth has come a proliferation of CDO managers of varying degrees of talent and ex

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