Over the weekend only one financial story has been on everyone’s lips: The Goldman Sachs fraud case. But how exactly was this trade structured and who was involved? Perhaps the most important question, though, is who knew what?
for an easier ready,
Some words explanations:
SEC: Security and Exchange Commission
ACA: Approved by the Maryland Insurance Administration.
Provided for settlement of the structured finance obligations and protection for ACA’s municipal policyholders. ACA will operate as a runoff insurance company and focus on actively monitoring its remaining insured municipal obligations.
Credit rating Agencies:
A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations as well as the debt instruments themselves. In some cases, the servicers of the underlying debt are also given ratings.Wikipedia
Now you’re ready for the whole article!
more from the NY Times:
Please read also:
This has nothing to do with Africa?
– Of course it has!!!