Unstructured Finance

Phil Falcone’s ray of sunshine

December 12, 2011

By Matthew Goldstein

Leave it to Phil Falcone to find a glimmer of good news to relay to the beleaguered investors in his Harbinger Capital Partners. A day after U.S. securities regulators threatened to sanction the billionaire hedge fund manger for alleged trading irregularities, Falcone told investors in his roughly $4 billion firm that not all is lost.

Checking BP’s life signs

June 15, 2010

Lawmakers are blasting Big Oil on Capitol Hill, but most of the execs from Exxon, Conoco, Chevron etc may have more to gain from the slap-down then they stand to lose if you consider the real target of their ire, BP.

Goldman’s road to Wellsness

April 19, 2010

Most free marketers are happy to overlook a certain amount of outsmartiness from investment banks. After all, these are the rocket scientists who made mountains of cash by piling multiple levels of risk on dodgy investments and calling them hedges. Sure, such alchemy blew up in many a face, but the logic behind the free market does have a role to play here. Shorting synthetic CDOs would have ultimately helped force the market to recognize how much hot air was behind the subprime-fueled boom. But by not disclosing a mechanism built to fail — the Abacus CDO in question — Goldman Sachs may have taken too deep a bite out of the hand that feeds it.