1 billion Deutsche Bank CDO known as Gemstone VII, which was backed with subprime loans that its then-top trader, Greg Lippmann, referred to as crap. The head of the banks CDO group, Michael Lamont, said in an e-mail cited in the report that he would try to sell the CDO before the market falls off a cliff.
Date: Apr 14, 2011
Source: Google
Deutsche Bank Sold CDO 'Pigs' as Market Buckled, Lawmakers Say
Keep your fingers crossed but I think we will price this just before the market falls off a cliff, Michael Lamont, the groups co-head, said in a Feb. 8, 2007, e-mail about Deutsche Banks Gemstone CDO VII Ltd., according to a report released yesterday by the Permanent Subcommittee on Investigatio