***From the book***
In this chapter, we focus on introducing the general concepts of the CDO universe, and we explore the mechanics of cash CDOs, CDOs in which securitization is employed to convey credit-sensitive assets to a special purpose entity (SPE) that in turn issues securities backed by those credit-sensitive assets. ... click here for more details.
In February 2008, when Jonathan Sokobin took charge of the SEC`s Office of Risk Assessment, the agency had hardly a clue about the dominoes that were about to fall. Today, Sokobin and his beefed-up staff aim to help identify - and maybe even prevent - more such surprises.