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Home>John Thain Admits He Didn't Understand Merrill's Risks

John Thain Admits He Didn't Understand Merrill's Risks

Morningstar Articles

Thu, 8 Oct 2009

The bankers and traders dealing in CDOs didn't understand what they were doing , John Thain said in a recent speech . " To model correctly one tranche of one CDO took about three hours on one of the fastest computers in the United States . There is no chance that pretty much anybody understood wha

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