JoeyDVivre Wrote: ------------------------------------------------------- > So far in this debacle we have had (I dunno) 15 (but admittedly > they have been pretty important failures). FDIC Failed Bank List - almost 30 now counting 2008-present http://www.fdic.gov/bank/individual/failed/banklist.html
^ OK, I believe 30. Thanks for fact-checking. I think my point stills stands - during the Great Depression we had vastly more failures than we do now and securitization is responsible for some of that differential.
between 1980 and 1994 we had 1600 bank failures. These banks collectively held over $206 Billion in assets. http://www.fdic.gov/bank/historical/history/3_85.pdf (see the chart on page 15)
kutta2102 Wrote: ------------------------------------------------------- > Spierce, you are correct - I wasn’t correct about > FASB getting rid of securitizations. They did talk > about bringing the assets back on to the BS, I > think. However, it can’t happen anytime soon given > the reality of the situation. FASB has been planning to change FAS140 for the past 7 years since the original one was such a joke. Despite repeated memos and exposure drafts, they still have failed to reconcile the problem of recognition of assets. The QSPE is a joke of a solution and will go away. However, off-bs treatment will not. It’ll be more akin to the European solution (Elektra) or the Canadian solution (beneficial 3rd party entity of all residuals), migrating FIN46 towards the IAA standards. Even if the IAA ultimately moves towards on-bs treatment, they will have to come up with a hybrid capitalization model. Allowing on-bs treatment but retaining the beneficial capital treatment.
Does anyone work in structuring or does anyone know if there have been any deals closing(either second half 008 and into this year), specifically CMBS, RMBS or CDO’s? Or a site that details this?
s23dino Wrote: ------------------------------------------------------- > Does anyone work in structuring or does anyone > know if there have been any deals closing(either > second half 008 and into this year), specifically > CMBS, RMBS or CDO’s? Or a site that details this? lol. There’s nothing getting done. you can check www.abalert.com for the pricings.