Asset Backed Securities Quotes

We've searched our database for all the quotes and captions related to Asset Backed Securities. Here they are! All 21 of them:

It’s crucial to understand that ordinarily the FBI applies for a wiretap separately from the National Security Agency. The NSA had tapped my phones for years, going back to the 1993 World Trade Center attack. But those wire taps would not automatically get shared with the FBI, unless the Intelligence Community referred my activities for a criminal investigation. The FBI took no such action. Instead—by coincidence I’m sure, the FBI started its phone taps exactly when the Senate Foreign Relations Committee planned a series of hearings on Iraq in late July, 2002.212 That timing suggests the FBI wanted to monitor what Congress would learn about the realities of Pre-War Intelligence, which contradicted everything the White House was preaching on FOX News and CNN. In which case, the Justice Department discovered that I told Congress a lot—and Congress rewarded the White House by pretending that I had not said a word. But phone taps don’t lie. Numerous phone conversations with Congressional offices show that I identified myself as one of the few Assets covering Iraq.213 Some of my calls described the peace framework, assuring Congressional staffers that diplomacy could achieve the full scope of results sought by U.S policymakers.
Susan Lindauer (EXTREME PREJUDICE: The Terrifying Story of the Patriot Act and the Cover Ups of 9/11 and Iraq)
[C]ritics of Canadian securities regulators sometimes point out that a number of high-profile US securities cases have resulted in prison sentences for the offenders, while incarceration for Canadian securities law violators seems very rare...[A]s has often been noted, incarceration is far more frequent in the United States for crimes of all kinds, yet it is not usually suggested that this is proof that the United States is generally a safer place to live than Canada.
Paul Halpern (Back from the Brink: Lessons from the Canadian Asset-Backed Commercial Paper Crisis)
For the purposes of this book, however, the relevant question is much narrower: the issue is not whether, in general, a national securities regulator is preferable to Canada's fragmented provincial securities regulatory system. The key question, for our purposes, is this: Would a national securities regulator have made a material difference in this specific case? Framed this way, the question is much more challenging and the answer far less certain.
Paul Halpern (Back from the Brink: Lessons from the Canadian Asset-Backed Commercial Paper Crisis)
[A]lthough there are many arguments that strongly support the establishment of a national securities regulator in Canada, it is not entirely clear that the regulatory response to the ABCP meltdown is among them.
Paul Halpern (Back from the Brink: Lessons from the Canadian Asset-Backed Commercial Paper Crisis)
Ever heard of collateralized debt obligations? Mortgage-backed securities? Non-bank asset-backed commercial paper? What about income trusts? Or even mutual funds?
David Trahair (Enough Bull: How to Retire Well without the Stock Market, Mutual Funds, or Even an Investment Advisor)
Asset-backed securities involve a high degree of financial engineering. As a general rule of thumb, the more complexity that exists in a Wall Street creation, the faster and farther investors should run.
David F. Swensen (Unconventional Success: A Fundamental Approach to Personal Investment)
The Global Financial Crisis of 2007–08 represented the greatest financial downswing of my lifetime, and consequently it presents the best opportunity to observe, reflect and learn. The scene was set for its occurrence by a number of developments. Here’s a partial list: Government policies supported an expansion of home ownership—which by definition meant the inclusion of people who historically couldn’t afford to buy homes—at a time when home prices were soaring; The Fed pushed interest rates down, causing the demand for higher-yielding instruments such as structured/levered mortgage securities to increase; There was a rising trend among banks to make mortgage loans, package them and sell them onward (as opposed to retaining them); Decisions to lend, structure, assign credit ratings and invest were made on the basis of unquestioning extrapolation of low historic mortgage default rates; The above four points resulted in an increased eagerness to extend mortgage loans, with an accompanying decline in lending standards; Novel and untested mortgage backed securities were developed that promised high returns with low risk, something that has great appeal in non-skeptical times; Protective laws and regulations were relaxed, such as the Glass-Steagall Act (which prohibited the creation of financial conglomerates), the uptick rule (which prevented traders who had bet against stocks from forcing them down through non-stop short selling), and the rules that limited banks’ leverage, permitting it to nearly triple; Finally, the media ran articles stating that risk had been eliminated by the combination of: the adroit Fed, which could be counted on to inject stimulus whenever economic sluggishness developed, confidence that the excess liquidity flowing to China for its exports and to oil producers would never fail to be recycled back into our markets, buoying asset prices, and the new Wall Street innovations, which “sliced and diced” risk so finely, spread it so widely and placed it with those best suited to bear it.
Howard Marks (Mastering The Market Cycle: Getting the Odds on Your Side)
Principal Management Corporation, the manager of the LargeCap Value Fund, actually provides no investment management services, focusing instead on “clerical, recordkeeping and bookkeeping services.” Responsibility for the day-in and day-out portfolio management rests with a subsidiary of Alliance Capital Management, Bernstein Investment Research and Management.17 The fee arrangement between Principal and Bernstein involves only a portion of Principal’s take from its investors. For the year ended December 31, 2003, Principal’s no-load Class B shares bore the burden of a 2.51 percent expense ratio, as detailed in Table 8.7. Investors paid a 12b-1 fee of 0.91 percent, other expenses of 0.85 percent and a management fee of 0.75 percent. Principal’s fees all but guarantee that investors will fail to generate satisfactory returns. The management fee arrangement between Principal and Bernstein provides clues to the economies of scale available in the money management industry. At asset levels below $10 million, of the 0.75 percent management fee, 0.60 percent goes to Bernstein and 0.15 percent goes to Principal. As assets under management increase, Bernstein’s fee share decreases and Principal’s fee share increases. At the final break point of $200 million in assets, of the scale-invariant 0.75 percent fee, Bernstein receives 0.20 percent and Principal receives 0.55 percent. The fee structure clearly illustrates scale economies in the investment management business. Bernstein, the party responsible for the heart of the portfolio management process, earns fees that diminish (with increases in assets under management) from 0.60 percent of assets to 0.20 percent of assets. Since Bernstein’s work changes not at all as asset levels increase, the reduction in marginal charges makes sense. It makes no sense that Principal’s mutual-fund clients accrue no benefits from economies of scale. Total expenses incurred by investors remain at 2.51 percent regardless of portfolio size. As Bernstein’s management fee declines, Principal’s management fee increases. For assets above $200 million Principal adds a management fee of 0.55 percent to other fees of 1.76 percent, bringing the egregious total to 2.31 percent for Principal and 0.20 percent for Bernstein. In this topsy-turvy world, Principal earns a marginal management fee of 0.55 percent for performing back-office functions, while Bernstein earns a marginal management fee of 0.20 percent for making security-selection decisions. As scale increases, Bernstein earns less while Principal takes more.
David F. Swensen (Unconventional Success: A Fundamental Approach to Personal Investment)
RT had paid him $45,000 for his appearance. His colleagues had warned him that taking Kremlin gold would fatally compromise him, and they also thought that he didn’t care. (Flynn’s twenty-seven-day stint as Trump’s White House national security adviser ended after he lied to the FBI about his conversations with the Russians.) Stein said her campaign paid for her trip to Moscow, but RT paid her back. It ran more than one hundred stories on its American channel supporting her bid for the White House, amplifying her positions—“a vote for Hillary Clinton is a vote for war”—which reliably corresponded with the party line of the Internet Research Agency. “She’s a Russian asset—I mean, totally,” Clinton said three years after the election, an intriguing and incendiary charge.
Tim Weiner (The Folly and the Glory: America, Russia, and Political Warfare 1945–2020)
• Loads are sales charges that kick in when you buy (front-end load) or sell (back-end load) open-end mutual fund shares. • Expense ratio refers to ongoing fees for the fund, which range from 0.09 percent to more than 3 percent; lower fees are associated with index funds, higher fees with managed funds. • Minimum investment requirement for open-end funds typically ranges from $500 to $3,000 for the initial investment only. • NAV (net asset value) equals the total current value of all assets held by the fund minus any outstanding liabilities divided by the total number of outstanding shares [(assets – liabilities)/shares].
Michele Cagan (Real Estate Investing 101: From Finding Properties and Securing Mortgage Terms to REITs and Flipping Houses, an Essential Primer on How to Make Money with Real Estate (Adams 101))
It was the German powerhouse Deutsche Bank AG, not my fictitious RhineBank, that financed the construction of the extermination camp at Auschwitz and the nearby factory that manufactured Zyklon B pellets. And it was Deutsche Bank that earned millions of Nazi reichsmarks through the Aryanization of Jewish-owned businesses. Deutsche Bank also incurred massive multibillion-dollar fines for helping rogue nations such as Iran and Syria evade US economic sanctions; for manipulating the London interbank lending rate; for selling toxic mortgage-backed securities to unwitting investors; and for laundering untold billions’ worth of tainted Russian assets through its so-called Russian Laundromat. In 2007 and 2008, Deutsche Bank extended an unsecured $1 billion line of credit to VTB Bank, a Kremlin-controlled lender that financed the Russian intelligence services and granted cover jobs to Russian intelligence officers operating abroad. Which meant that Germany’s biggest lender, knowingly or unknowingly, was a silent partner in Vladimir Putin’s war against the West and liberal democracy. Increasingly, that war is being waged by Putin’s wealthy cronies and by privately owned companies like the Wagner Group and the Internet Research Agency, the St. Petersburg troll factory that allegedly meddled in the 2016 US presidential election. The IRA was one of three Russian companies named in a sprawling indictment handed down by the Justice Department in February 2018 that detailed the scope and sophistication of the Russian interference. According to special counsel Robert S. Mueller III, the Russian cyber operatives stole the identities of American citizens, posed as political and religious activists on social media, and used divisive issues such as race and immigration to inflame an already divided electorate—all in support of their preferred candidate, the reality television star and real estate developer Donald Trump. Russian operatives even traveled to the United States to gather intelligence. They focused their efforts on key battleground states and, remarkably, covertly coordinated with members of the Trump campaign in August 2016 to organize rallies in Florida. The Russian interference also included a hack of the Democratic National Committee that resulted in a politically devastating leak of thousands of emails that threw the Democratic convention in Philadelphia into turmoil. In his final report, released in redacted form in April 2019, Robert Mueller said that Moscow’s efforts were part of a “sweeping and systematic” campaign to assist Donald Trump and weaken his Democratic rival, Hillary Clinton. Mueller was unable to establish a chargeable criminal conspiracy between the Trump campaign and the Russian government, though the report noted that key witnesses used encrypted communications, engaged in obstructive behavior, gave false or misleading testimony, or chose not to testify at all. Perhaps most damning was the special counsel’s conclusion that the Trump campaign “expected it would benefit electorally from the information stolen and released through Russian efforts.
Daniel Silva (The Cellist (Gabriel Allon, #21))
BackTrack is like most Linux distributions in that it is free and open source. Perhaps its greatest asset is that it contains more than 300 tools designed to assist in security auditing.
Christopher Hadnagy (Social Engineering: The Art of Human Hacking)
Are you looking for a large storage space for your 45-foot motorhome or 28-foot boat? The best place to store your expensive large-size vehicles is indoor storage facilities such as RV storage Mobile. At the indoor storage unit, you will get the top level of professional’s service and they will ensure that your asset is safe. Storing your valuable asset in the indoor storage unit is beneficial and there are so many benefits of it: Large Space Professionally designed indoor storage units provide plenty of space where you can easily store your large RV and boat. Your large vehicle can stay safe inside the storage units. Keeping Watch On Your Property The indoor storage units such as boat storage daphne AL not just offer storage solutions, but they will also keep eye on your asset. They ensure 24/7 surveillance to keep your vehicle safe. All indoor storage units are installed with surveillance cameras, gated fencing, bay-door locks, etc. All these security systems make sure that your RV or boat is completely safe inside the storage unit. Protection From Outdoor Ravages Even the best cover for the RVs and boats cannot ensure high efficiency and they cannot protect your vehicle from icy cold weather. By storing your vehicles inside the climate-controlled ambiance, you can keep your vehicle safe and slow down the wear and tear. No More Street Parking Problems If you are worried about parking on the streets, then indoor storage units are the best solution for you. You can save your vehicle from various parking problems. Search the best “boat storage near me” and book the indoor storage units for your vehicles. Minimize Spring Cleaning When you will store your boat or RV inside the closed space, then you do not need to handle too much mess. It is so because your vehicle will be protected from dust, dirt, and debris. You will get a clean vehicle when you will take it back.
Titan Storage
Crucially, most of the existing Harrah’s debt did not have to be refinanced. Because it was not secured by any collateral, suddenly Harrah’s could issue senior debt backed by the company’s assets. It would do so in the LBO deal, pushing $4.5 billion of existing debt to the bottom of the totem pole in a $25 billion debt stack. This was cruel. Those existing unsecured bonds crashed in price as they were last in line to be repaid. But the maneuver allowed Apollo and TPG to issue new debt more cheaply. And it illustrated one of the key legal principles that would echo through this case: Debtholders’ relationship with the company remains strictly contractual. Any rights they have must be bargained for and embedded in documents. The management and board of a company, in contrast, have fiduciary duties which dictate that they maximize shareholder value.
Sujeet Indap (The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street)
You know, Chloe, sometimes I think you're just writing lies about ancient Maine in order to mess with me... Venture capital. Collateralized debt obligations. Structured investment vehicles. This is like some occult shit. People won't read it... Asset-backed security. This shit sounds made-up! It sounds like some fake shit!
Michael DeForge (Birds of Maine)
Invest in experiences not things. Surely, build an asset and savings base for a rainy day. But don’t kid yourself thinking you are really ‘secure’ and ‘settled’ just because you have money. Anything can happen in Life – that too, in a nano-second! Besides, as you age, you will realize that what you can do when you are 20, you really can’t do when you are 40! Which is why, invest in experiences, in doing what you love doing. Your experiences shape you. They intricately weave your learnings from each experience with your idea of Happiness to create a beautiful fabric that stays in your subconscious even when people and things around you perish over time. In the end, what will count most in your Life, are who you loved, how you were loved back and how you enjoyed doing all that you loved doing!
AVIS Viswanathan
It’s importance, however, is bigger than that. Treasury securities are the risk-free yield curve for all of the financial markets. That’s right, the yields of Treasury Bills, Notes, and Bonds from overnight to 30 years make up a yield curve that is used to price all other fixed-income securities. The Treasury market is the reference rate for interest rates. Treasurys are a tool for pricing corporate bonds, municipal bonds, emerging market bonds, federal agencies, mortgage-backed securities, and other dollar assets. On top of that, they’re also a tool for speculation and hedging risk.
Scott E.D. Skyrm (The Repo Market, Shorts, Shortages, and Squeezes)
It was the German powerhouse Deutsche Bank AG, not my fictitious RhineBank, that financed the construction of the extermination camp at Auschwitz and the nearby factory that manufactured Zyklon B pellets. And it was Deutsche Bank that earned millions of Nazi reichsmarks through the Aryanization of Jewish-owned businesses. Deutsche Bank also incurred massive multibillion-dollar fines for helping rogue nations such as Iran and Syria evade US economic sanctions; for manipulating the London interbank lending rate; for selling toxic mortgage-backed securities to unwitting investors; and for laundering untold billions’ worth of tainted Russian assets through its so-called Russian Laundromat. In 2007 and 2008, Deutsche Bank extended an unsecured $1 billion line of credit to VTB Bank, a Kremlin-controlled lender that financed the Russian intelligence services and granted cover jobs to Russian intelligence officers operating abroad. Which meant that Germany’s biggest lender, knowingly or unknowingly, was a silent partner in Vladimir Putin’s war against the West and liberal democracy. Increasingly, that war is being waged by Putin’s wealthy cronies and by privately owned companies like the Wagner Group and the Internet Research Agency, the St. Petersburg troll factory that allegedly meddled in the 2016 US presidential election. The IRA was one of three
Daniel Silva (The Cellist (Gabriel Allon, #21))
Understanding Financial Risks and Companies Mitigate them? Financial risks are the possible threats, losses and debts corporations face during setting up policies and seeking new business opportunities. Financial risks lead to negative implications for the corporations that can lead to loss of financial assets, liabilities and capital. Mitigation of risks and their avoidance in the early stages of product deployment, strategy-planning and other vital phases is top-priority for financial advisors and managers. Here's how to mitigate risks in financial corporates:- ● Keeping track of Business Operations Evaluating existing business operations in the corporations will provide a holistic view of the movement of cash-flows, utilisation of financial assets, and avoiding debts and losses. ● Stocking up Emergency Funds Just as families maintain an emergency fund for dealing with uncertainties, the same goes for large corporates. Coping with uncertainty such as the ongoing pandemic is a valuable lesson that has taught businesses to maintain emergency funds to avoid economic lapses. ● Taking Data-Backed Decisions Senior financial advisors and managers must take well-reformed decisions backed by data insights. Data-based technologies such as data analytics, science, and others provide resourceful insights about various economic activities and help single out the anomalies and avoid risks. Enrolling for a course in finance through a reputed university can help young aspiring financial risk advisors understand different ways of mitigating risks and threats. The IIM risk management course provides meaningful insights into the other risks involved in corporations. What are the Financial Risks Involved in Corporations? Amongst the several roles and responsibilities undertaken by the financial management sector, identifying and analysing the volatile financial risks. Financial risk management is the pinnacle of the financial world and incorporates the following risks:- ● Market Risk Market risk refers to the threats that emerge due to corporational work-flows, operational setup and work-systems. Various financial risks include- an economic recession, interest rate fluctuations, natural calamities and others. Market risks are also known as "systematic risk" and need to be dealt with appropriately. When there are significant changes in market rates, these risks emerge and lead to economic losses. ● Credit Risk Credit risk is amongst the common threats that organisations face in the current financial scenarios. This risk emerges when a corporation provides credit to its borrower, and there are lapses while receiving owned principal and interest. Credit risk arises when a borrower falters to make the payment owed to them. ● Liquidity Risk Liquidity risk crops up when investors, business ventures and large organisations cannot meet their debt compulsions in the short run. Liquidity risk emerges when a particular financial asset, security or economic proposition can't be traded in the market. ● Operational Risk Operational risk arises due to financial losses resulting from employee's mistakes, failures in implementing policies, reforms and other procedures. Key Takeaway The various financial risks discussed above help professionals learn the different risks, threats and losses. Enrolling for a course in finance assists learners understand the different risks. Moreover, pursuing the IIM risk management course can expose professionals to the scope of international financial management in India and other key concepts.
Talentedge
While the discussions focus on how blockchain technology and cryptocurrencies can transform many industries. The cryptocurrency community is witnessing several hackers steal millions from blockchains, exchanges, and bridges. From the 2014 MT GOX hack to the recent Nomad Bridge attack, hackers are advancing along with the growth of blockchain technology and the cryptocurrency industry. Several million-dollar attacks have occurred, and hackers are becoming more ambitious and dangerous. In the past few days, Attacks have escalated, as well as the amount of funds stolen has increased too. Many individuals are in a panic as they have lost their savings, The attacks on the Solana wallets, Nomad bridge, and ZB exchange brought another riskier prospect of cryptocurrencies. There are many doubts surrounding the security of cryptocurrencies: how can these bridges be easy targets for hackers? how hackers can easily access other crypto wallets? Let's get into the detail of these three different types of attacks and how hackers make millions through them. Bridge attacks Blockchain bridges are applications that allow people to transfer digital assets between blockchains. Since cryptocurrencies are often isolated and unable to communicate with one another (for example, you cannot make a transaction on the Bitcoin blockchain using Dogecoins), "bridges" have emerged as an essential mechanism, if not a vital missing link, in the cryptocurrency economy. The bridge "locks" your cash on one side and dispenses the equal amount in so-called "wrapped" tokens on the other. To change one form of cryptocurrency into another, bridge services "wrap" the money. As a result, if you visit a bridge to use a different currency, such as Bitcoin (BTC), the bridge will dispense wrapped bitcoins (WBTC). It represents stored value in a flexible alternate format, similar to a gift card or a cheque. Bridges require a reserve of cryptocurrency currencies to back all of those wrapped coins, and hackers frequently target this reserve. Additionally, if a bridge becomes popular over time, it can have a lot of money (imagine hundreds of millions of dollars) tied up in its smart contracts. If those smart contracts contain security flaws, some or all of that money can be stolen. As former Ethereum co-founder Vitalik Buterin has pointed out, another issue with crypto bridges is that they are by design vulnerable to attacks on two sides. Nomad attack On July 29, Nomad, a bridge protocol for moving cryptocurrencies across multiple blockchains, lost about $200 million due to a security flaw. In the case of Nomad, it appears that a fault in its smart contract allowed someone to set up a cryptocurrency transaction such that they sent a few amounts of crypto on one side, but received a larger amount on the other, as multiple experts stated on Twitter. For example, you could transfer 0.1 Crypto on one side and receive 100 Crypto on the other. Things start to become intriguing at this point. Usually, when a security flaw like this is discovered, a skilled hacker or a small group can quickly drain out all the money. However, in the case of Nomad, once someone successfully stole some cash from the Nomad bridge, other people joined in and also grabbed some money. This is not the only bridge that has been compromised this year. The Ronin Bridge, which was used by the developers of the play-to-earn game Axie Infinity, was hacked earlier this year for approximately $625 million. The Harmony Bridge was also hacked for $100 million. Wallet Hacks
Coingabbar.com
they’re waiting for something. Because frankly, with the assets they already have, they’re poised to take over most of the world any time. The only thing I can see holding them back is the security forces of the governments they’d likely target. Until they find a way around that, or find a way to get those forces behind themselves, we’ve got some time.
J.C. Ryan (The Skywalkers (Rossler Foundation, #5))