Structured Finance and Collateralized Debt Obligations

An up-to-date look at the exploding CDO and structured creditproducts market In this fully updated Second Edition, financial expert JanetTavakoli provides readers with a comprehensive look at the CDO andstructured credit products market amid recent developments. Inaddition to a detailed overview of the market, this book presentskey issues in valuing structured financial products and importantquality control issues. Tavakoli shares her experiences in thisfield, as she examines important securitization topics, includingthe huge increase in CDO arbitrage created by synthetics, thetranches most at risk from new technology, dumping securitizationson bank balance sheets, the abuse of offshore vehicles bycompanies, the role of hedge funds, critical issues with subprime, Alt-A, and prime mortgage securitizations, and securitizations madepossible by new securitization techniques and the Euro. Whileproviding an overview of the market and its dynamic growth, Tavakoli takes the time to explore the types of products nowoffered, new hedging techniques, and valuation and risk/returnissues associated with investment in CDOs and synthetic CDOs.