From an FT story on the DoJ investigation of CDS pricing:

In recent weeks, for example, rumours have circulated that last year some large dealers manipulated the price of derivatives linked to mortgages and corporate bonds – by “leaning on” prices, to use trading jargon – to hurt rival banks or hedge fund groups. “Some of the stuff that has been happening on the trading desks has been pretty dirty,” says one banker who used to hold a senior position at a large dealer. There is little evidence that those tales are grounded in truth, or directly linked to the current probe by the DoJ.
If the rumors aren't true, then why print one? Especially one about "stuff" happening on unspecified "trading desks"? Rumors on Wall Street are rarely true. I'm less and less impressed with Gillian Tett.


Anonymous said...

Gillian Tett in late 2007 didnt seem to know the distinction of assets and liabilities on a balance sheet , and seemed to be confused by the fact that loans were assets, or generally one persons liabilities are the others assets. Just read , if you care, her articles about the Super SIV( rememebr that?). You couldnt make heads or tails of it.
And now she is a reference on the financial crisis!!!

Anonymous said...

Gillian Tett at the end of 2007 did not havebuy D3 items knowledge of the distinction connected with assets and liabilities using a harmony linen , and also have also been perplexed by the fact that personal loans ended up resources, as well as typically just one folks obligations will be the other folks resources. Simply study , in case you proper care, the woman's posts in regards to the Very SIV( rememebr in which?). An individual couldn't help to make minds or perhaps tails than it.
And after this Cheap GW2 itemsshe's some sort of reference around the economic crisis!!!

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