Relevant:
- Merrill Lynch Investigated for CDO Deal Involving Magnetar
- The Magnetar Trade: How One Hedge Fund Helped Keep The Bubble Going
- SEC Investigating Deal Between JPMorgan and Hedge Fund Magnetar
- The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble Going
- Mizuho Chief Warns of Japan Downgrade if Abe Delays Tax Hike
2011-09-16 — propublica.org
``The deal was so bad that one rating agency--Moody's--refused to rate it. Soon after it closed, Tigris was downgraded and went into default. Mizuho wrote it off. Magnetar essentially got rid of its low-rated assets by pledging them to Mizuho in exchange for $450 million, which it got to keep even after the CDO went bust.''
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