Word: tranchees
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Sheik Mo, as he's dubbed by the media, was tweeting in London last week when officials back home stunned financial markets by announcing a request for a six-month repayment standstill on part of the sheikdom's $80 billion debt. The immediate issue is Dubai's inability to come...
A tranche of wild sea bass with green-pea-and-rocket emulsion and mousserons des prés mushrooms sounds more like a three-star Michelin meal than a cookery-class assignment. But it's exactly the kind of fastidiously prepared yet surprisingly uncomplicated dish that features on the haute...
Without other credit enhancement techniques, tranches are rated differently because each one is paid sequentially, with interest and principal payments on the underlying loans first going to the senior most tranche and the last payments going to the most junior. Effectively, the tranches are, at least in part, rated differently...
The unprecedented productivity on Capitol Hill this week stems from the continuing, unanimous outrage over the $165 million in bonuses handed out by AIG, which the government has funneled more than a hundred billion dollars into since last summer. At his congressional testimony earlier this week, embattled AIG CEO Edward...
But wait, there's more. Unlike other CDOs, Strata is a so-called single tranche CDO. Most CDOs own hundreds of millions of dollars of loans. Those loans are pooled together and then various bonds are sold based on the portfolio. But all the bonds are not the same. They...