A.K. Barnett-Hart says check yourselves.
A word of advice to any asshats currently hard at work figuring out how to cause the next financial crisis: AK Barnett-Hart is watching you. In fact, you’re the reason the second year investment bank analyst, who wrote her senior thesis about the market for subprime mortgage-backed CDOs (which Michael Lewis called “more interesting than any piece of Wall Street research on the subject”), got into this line of work. To police you fuckers, and clean this place up. From Deal Journal:
Barnett-Hart’s thesis is highly critical of Wall Street and “their irresponsible underwriting practices.” So how is it that she can work for the very institutions that helped create the notorious CDOs she wrote about?
“After writing my thesis, it became clear to me that the culture at these investment banks needed to change and that incentives needed to be realigned to reward more than just short-term profit seeking,” she wrote in an email. “And how would Wall Street ever change, I thought, if the people that work there do not change? What these banks needed is for outsiders to come in with a fresh perspective, question the way business was done, and bring a new appreciation for the true purpose of an investment bank – providing necessary financial services, not creating unnecessary products to bolster their own profits.”
Michael Lewis’s ‘The Big Short’? Read the Harvard Thesis Instead! [Deal Journal via BI]
http://www.youtube.com/watch?v=OcBmUw1PfO4
She works for GS, btw.
@2 O RLY?
http://www.linkedin.com/pub/anna-katherine-barnett-hart/18/a32/879
Oh dear Bess! What have you done posting that poor child’s Facebook profile picture here, in a level of Dante’s?
You couldn’t let Joe Weisenthal (who looks more and more like a jihadist every passing day – see you soon joey!) just run with it and leave this poor girl be. Now that she has been posted on a real financial blog, for her, the end is nye.
Let’s go DB’ers. Let the shit show begin. I’ve got front row seats.
What a richly deserved honor this is for her.
@3 well it’s LinkedIn against Bloomberg. I trust the terminal.
…although I guess she coulda interned at GS and then got the job at MS. Either way, she had some golden scrot in her at one point.
@4 what the hell are you talking about? who cares that bess put up her facebook picture, which anyone could find by simply googling her name, which was already made public by Deal Journal? grow a brain cell before commenting again.
Beth:
I was going to say something nasty but ended up examining my motives. Beth, you’ve changed me.
Cuddles!
Your squishy Biff.
She has 4 names? WTF? That’s too many for a 24 year old who is not European nobility. Or if she is then she is snobby eurotrash anyway.
Shorten that shit up.
@9 you need a new hobby. the creepy commenting stalker-age got weird/old a while ago.
I’d love to fcuk her senseless if you know what I mean…
@11 you must be confusing me with the other stalkers that purloined my famous name.
I know what you mean.
do you think the former variety editor has anything to say about this?
She’ll be out of IB within 12 months and will try to be the next Bethany McLean.
show us your subprime assets!
@2 so she’s good for an easy sawbuck, then?
a one trick pony … prove me wrong, Poindexter.
cute and smart.
@19 = Harry Markopolos
Just think, someday you’ll be paging through the Sunday NY Times and run across the wedding announcements and see “the bride, the new Mrs Thurston Biff A.K. Barnett-Hart-Smythe-Smythe was radiant and the traditional WASP ceremony”
@1 FTW!!!!
$10 this news will get over 70 comments by tomorrow morning (10AM EST). Who is down?
@24 – Like a CDS on Greek debt, your bet would encourage collusion and manipulation, pushing the comments to defau…I mean 70. No Deal.
-Gary Gensler
I think someone said she works for GS.
Well, if that is true, the verb work could be in past tense after this publicity.
Either that our she may get pushed out because firing a woman is much harder – ah, the ideas of youth.
I am sure she meant well – hope she is OK.
@17 Win.
I think someone said she works for GS.
Well, if that is true, the verb work could be in past tense after this publicity.
Either that our she may get pushed out because firing a woman is much harder – ah, the ideas of youth.
I am sure she meant well – hope she is OK.
I think someone said she works for GS.
Well, if that is true, the verb work could be in past tense after this publicity.
Either that our she may get pushed out because firing a woman is much harder – ah, the ideas of youth.
I am sure she meant well – hope she is OK.
How the fuck are you guys still able to double and triple post?
@ 30- For some people using a compture is a difficult task. Just feel sorry for them nothing more is required.
Sure she’s going to kill the whale from the inside. This is such nonsense. She’ll be running for coffee and making sure there’s ice in the conference room not engaging in a debate with senior management about “marketing” useless financial products.
Change comes from running spreadsheets and making powerpoint?
Maybe change comes from carrying pitchbooks or going to creative to remake a deck for the 45th time…
I just ate a sandwich.
@30 “Ex GS ANALYST”
I’m not sure if it’s the “Ex” part or the “GS ANALYST,” but there’s your answer.
Santelli is the Jon Gosselin of CNBC.
~`R. Hunter
Sextape, GA
I wonder if she has a full Brazilian or just a half.
@28/29 something tells me she got permission to do this. also? on what grounds good they fire her for? and she comes off well/in no way embarrasses whichever firm she works for.
@33 Na, change comes from Barack. CHANGE! HOPE! YES WE CAN!
what a lame thesis. Nice job doing something original. I hope she changes the WS culture by refusing a bonus. What a hypocrite..
@40 really? how was this unoriginal? how many theses do you know of that covered this topic?
I’d love to stick it in her bum.
Looks like Spitzer girl got a job on Wall Street
Looks like Spitzer girl got a job on Wall Street
Looks like spitzer’s gal got a job on wall street.
eliot
@43-45 how does it look like that at all? there is no resemblance.
@41
*Systematic risk of CDOs and CDO arbitrage.
*An Overview of Factor Modeling for CDO Pricing.
*Essays in Corporate Finance: (1) What Lies Beneath: An inside Look at CLOs Collateral, (2) The Alchemy of CDO Credit Ratings, (3) Large Blocks of Stock: Prevalence, Size and Measurement.
*Viewing the Financial Crisis from 20,000 Feet Up.
*The Alchemy of CDO Credit Ratings.
*Rating Model Arbitrage in CDO Markets: An Empirical Analysis.
This is a sample from random database for 2nd half of 2009 only.
Isn’t the best way to keep a job on wallstreet to not get published in a newspaper? lol
good to see there are people like this in the industry. she will go far.
but seriously, would you hit it? just askin’…
I wouldn’t believe this for a second if not for her actually being there on Bloomberg. Unfucking believable. They’re probably prepping her as we speak as the reason The Volcker rules isn’t needed, we’re self regulated!
The only way this slore will be cleaning up banking is, if she’s really really lucky, Lloyd will let her polish the sacred golden scrote. If she fails she settles for fetching coffee and donuts for the big boys and maybe giving the occasional blow job to the mailroom guy. (Lucky him, by the way!)
Wasn’t Kyle Bass really the original Big Short?
@51 what is so “unfucking believable” about this?
Where’s Muffy, Bess?
What does that even mean?
@41…who cares about a MMQB. Scion Capital wrote the thesis in real time and made a bundle.
She’s a Johnny Cum Lately.
If two people with hyphenated names get married, do the kids have four hyphenated names?
I would hit that -
only reason i read this is because she is cute. otherwise who gives a sh@# about a kid’s thesis..
From an authority:
“Marcie Dahlgren-Frost. Dahlgren is my maiden name, Frost is my married name. I’m single again, but I never bothered to remove the Frost. And I get compliments on the hyphen.”
I don’t think this crappy thesis would have make it to the news if she wasn’t this cute- or even worse- if it was a dude who wrote it…
hit-able
Who is she dating? A fireman?
@24=FAIL
Another Harvard puppet who thinks she knows better than anyone else. Here is a girl who has done nothing in life, who is a mere banking apprentice, telling everyone how we should run our business. Typical of Harvard, watch this:
http://www.youtube.com/watch?v=zq9bdAp6aEU
“What these banks needed is for outsiders to come in with a fresh perspective, question the way business was done, and bring a new appreciation for the true purpose of an investment bank – providing necessary financial services, not creating unnecessary products to bolster their own profits”
I’m fairly confident that if she actually went to an MD and did what she said she’d do, she would no longer be employed at said bank.
“Unnecessary Products to bolster their profits.”
-Axe Male Body Spray
-Glade plug-ins. With refills.
-The SunSetter Retractable awning.
Isn’t it all in the definition of “unnecessary”? I would certainly hope every for-profit business out there in the big, bad world would be trying to sell their “products” to bolster their profits.
But that’s just me.
@24 I’ll take the under on 70 comments.
@41
Also, Grant’s Interest Rate Obeserver has been writing about perils of subprime since 2005, see the sampling from below (NOT in chronological order) and as referenced by @57, the HFs that had the short trade on made the lionshare of their $$$ in 2007.
Subprime companies
February 23, 2007
… But “subprime” was the word, and the housing market boomed and boomed. Brands sell, but numbers count. … Subprime companies Vol. 25, No. 4e FEBRUARY 23, 2007 …
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We are subprime
March 9, 2007
… According to the Mortgage Bankers Association, subprime delinquency rates as of the third quarter were above 12%. … We are subprime Vol. 25, No. 7f-ctr …
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Flunking the subprime mortgage class of 2006 (Grant’s, December …
July 13, 2007 (Full Issue Only)
Flunking the subprime mortgage class of 2006 Grant’s, December 1, 2006—Ratings changes come thick and fast in the asset-backed securities market, but …
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Flunking the subprime mortgage class of 2006
December 1, 2006
… In the case at hand, it consists of subprime residen- tial mortgage loans. … Flunking the subprime mortgage class of 2006 Vol. 24, No. 23a DECEMBER 1, 2006 …
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Long subprime, short retail
October 3, 2008
… Subprime triple-A tranches are quoted at around 50, to yield 16%. Mortgage yields are contingent, of course, and always have been. … Long subprime, short retail …
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Cover your ratings (Grant’s, April 6, 2007)
July 13, 2007 (Full Issue Only)
… “Collateralized” is the word to mark. What backed up a good number of these IOUs were securities stuffed with subprime mortgages. …
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Reaching for houses
August 12, 2005
… point. The accompanying table docu- ments the deterioration in the pur- chase loans backing subprime mort- gage-backed securities. …
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Here come the downgrades
February 9, 2007
… It’s no front-page news that the 2006-vintage subprime-mortgage originations are stacking up as the all-time worst, or that the lowest- rated tranche of the …
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The ABCs of credit contagion (Grant’s, February 23, 2007)
July 13, 2007 (Full Issue Only)
The ABCs of credit contagion Grant’s, February 23, 2007—The make and model of the truck that hit the $1 trillion subprime-mortgage market is still …
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Bearish on New Century (Grant’s, June 17, 2005)
July 13, 2007 (Full Issue Only)
… Financial Corp. (NEW on the New York Stock Exchange). New Century is a hybrid REIT that originates subprime mortgages. It sells …
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Mortgage ebb tide (Grant’s, January 12, 2007)
July 13, 2007 (Full Issue Only)
… Such was the way of the boom. Now, the marginal, or subprime, lender is withdrawing and so, too, is the marginal borrower. Following …
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Cover your ratings
April 6, 2007
… The amount of adjustment is measured by the cost of insuring a certain reference index of triple-B-minus-rated subprime mort- gages against default. …
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The ABCs of credit contagion
February 23, 2007
Page 1. INTEREST RATE OBSERVER The make and model of the truck that hit the $1 trillion subprime-mort- gage market is still unreported. …
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Mortgage ebb tide
January 12, 2007
… Such was the way of the boom. Now, the marginal, or subprime, lender is withdrawing and so, too, is the marginal borrower. Following …
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Mortgage exit strategy
September 4, 2009
… There would be no quarrel here with a price of 80 if the fundamental trend in prime, non-agency mortgages were as hopeful as the trend in subprime. …
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Home sweet speculation
April 22, 2005
… The MBS market is divided roughly 50-50 between agency and non-agency mort- gage-backeds; the leading types of non- agency MBS include jumbo, Alt-A and subprime …
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CDO insurance machine (Grant’s, March 23, 2007)
July 13, 2007 (Full Issue Only)
… Just how large is the company’s risk in the notorious US subprime real estate market? … But there is subprime—and then there is subprime. …
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Bearish on New Century
June 17, 2005
… Financial Corp. (NEW on the New York Stock Exchange). New Century is a hybrid REIT that originates subprime mortgages. It sells …
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Best of the worst
October 16, 2009
… quite everything. Subprime is the asset class that the bull market for- got. Following is a brief for subprime inclusivity. At prevailing …
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Wheezing CDO machine (Grant’s, March 9, 2007)
July 13, 2007 (Full Issue Only)
… slices of lessthan- stellar mortgages), by the telltale weakness in a brand-new CDO index and, of course, by the collapse in the stocks of the subprime lenders …
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Yesteryear’s yield (Grant’s, April 6, 2007)
July 13, 2007 (Full Issue Only)
… unreturned). Students of the subprime disaster will be interested to know that Resource Capital has a residential mortgage CDO. …
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Up the capital structure (Grant’s, December 15, 2006)
July 13, 2007 (Full Issue Only)
The cost of insuring the lowliest such slice on the standard subprime reference index has climbed by 25% in seven short days, according to the guardians of the …
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Inside the mortgage machine
October 6, 2006
… Thus, as recently as 2000, just 25% of subprime mortgage issuance was characterized by limited documenta- tion—information submitted, in effect, on the honor …
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Wall Street’s mortgages
August 8, 2008
… Merrill Lynch and Lehman Brothers report CDO holdings, but not the gradation of those assets by subprime, Alt-A and prime. Morgan …
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Value in China
January 26, 2007
… Though the company’s disclosure is not so detailed as a student of the mort- gage cycle might wish, it seems that subprime losses are no division killer, let …
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Termites in the foundation (Grant’s, November 17, 2006)
July 13, 2007 (Full Issue Only)
… Certainly, he says, it is not unique. He adds that credit trouble is particularly prevalent in the subprime market, and especially in this year’s issuance. …
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New wrinkle in credit: Ohio’s unsecured mortgages (Grant’s …
July 13, 2007 (Full Issue Only)
… But we’re looking at the whole subprime industry and each and every player.” Dann added that New Century’s bankruptcy filing would change nothing. …
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Another word for ‘wand’
March 23, 2007
… not a small issue,” Alan Greenspan, the noted economic con- sultant, told the Futures Industry Association last week amidst the tumult in subprime mortgages. …
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Bearish on H&R Block
April 20, 2007
… and five times book value, you wouldn’t know unless you asked that the nation’s top tax-preparation firm by revenue also owns a benighted subprime lender. …
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Bearish on H&R Block (Grant’s, April 20, 2007)
July 13, 2007 (Full Issue Only)
… and five times book value, you wouldn’t know unless you asked that the nation’s top taxpreparation firm by revenue also owns a benighted subprime lender. …
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CDO insurance machine
March 23, 2007
… Just how large is the company’s risk in the notorious US subprime real estate market? … But there is subprime—and then there is sub- prime. …
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Wheezing CDO machine
March 9, 2007
… More than half of the collateral filling the $197 billion in “cash-flow” CDOs of ABS that Standard & Poor’s rated last year consisted of subprime and Alt …
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Inside the mortgage machine (Grant’s, October 6, 2006)
July 13, 2007 (Full Issue Only)
… Thus, as recently as 2000, just 25% of subprime mortgage issuance was characterized by limited documentation—information submitted, in effect, on the honor …
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Yesteryear’s yield
April 6, 2007
… unreturned). Students of the subprime disaster will be interested to know that Resource Capital has a residential mortgage CDO. …
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Material strength
February 22, 2008
… Yes, the mega-insurer is exposed to losses stemming from subprime mortgages and CDOs packed with asset-backed securities (ABS) con- sisting chiefly of subprime …
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Up the capital structure
December 15, 2006
… The cost of insuring the lowliest such slice on the standard subprime reference index has climbed by 25% in seven short days, according to the guardians of the …
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Find that risk
May 20, 2005
… triple-A subprime floaters are going to explode and take losses; but, at the spreads they trade at, you better be darn sure your risk is close to zero. …
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I scream, you scream, we all scream
January 26, 2007
… new 07-1 index, which con- sists of mortgages originated in the sec- ond half of 2006 (broadly acclaimed as the worst year ever for subprime under- writing …
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Mortgage derivatives are us
June 15, 2007
… “Who owns this stuff?” is everyone’s favorite question about subprime mort- gages and the gingerbread Victorian asset-backed structures that house them. …
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Mortgage derivatives are us (Grant’s, June 15, 2007)
July 13, 2007 (Full Issue Only)
Grant’s, June 15, 2007—“Who owns this stuff?” is everyone’s favorite question about subprime mortgages and the gingerbread Victorian assetbacked …
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Supermodel report card
January 23, 2009
… tranche, investment- grade corporates and convertibles. Our subprime mortgage tranche stood stock-still. Some of the marks may seem …
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Roll call of the bag holders
August 10, 2007
… who don’t report to the international media.” As it turns out, some do, because no fewer than seven Taiwanese financials have reported US subprime exposure …
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New wrinkle in credit: Ohio’s unsecured mortgages
April 6, 2007
… unfortunately, it’s the only vehicle available for some people.” Rowe asked the attorney general if, by impounding this fleet of subprime clunkers, Ohio …
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Memo to markets: We’re on our own
March 9, 2007
… Not quite washing her hands of the tumult in subprime mortgages, but not really sounding very sympathetic, either, the soon-to-be-retired Bies went on to …
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Principal of the thing
January 22, 2010
… default of performing subprime loans, measured monthly … “You’ve got a subprime borrower,” Young says of the end result of this ap- proach. …
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Termites in the foundation
November 17, 2006
… Certainly, he says, it is not unique. He adds that credit trouble is particularly prevalent in the subprime market, and especially in this year’s issuance. …
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February marked the spot
June 1, 2007
… It was in February, too, that the commercial real estate financing market began to contract in sympathy with the disturbances in subprime. …
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‘Toxic Treasurys, super-safe mortgages’
September 19, 2008
… Yet—now comes a valuation non sequitur—better-quality Alt-A and subprime mortgage structures are quoted at prices and yields that imply house prices will …
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Hostages to house prices
May 16, 2008
… Percent rated AAA 94.4 100.0 Percent of shareholders’ equity 23.0 66.5 Subprime RMBS fair value $18,379 $25,206 Percent of original cost 84.9% 83.0% …
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Field guide for the mortgage opportunist
July 13, 2007
… Somebody bought them issuance of subprime residential mortgage-backed securities … average loss borne by lenders of liquidated subprime loans …
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Field guide for the mortgage vulture (Grant’s, July 13, 2007)
July 13, 2007 (Full Issue Only)
… The mortgages that stand behind RMBS are not, most of them, inherently triple-A. Not a little of this raw material is subprime ($991 billion of subprime RMBS …
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Inside ACE Securities’ HEL Trust, Series 2005-HE5 (Grant’s …
July 13, 2007 (Full Issue Only)
… “I come to this as a student of subprime lending and the housing sector,” Fournier tells colleague Dan Gertner. “We were actually …
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Harmful side effects
February 23, 2007
… Low-doc mort- gages became especially popular among subprime buyers. … Of all the subprime mortgages outstanding, 75% were originated after 2003. …
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Chicken parts with turkey
May 4, 2007
… $1.5 trillion of such structures are issued and out- standing, he marveled, and issuance went right on booming in the first quarter, the subprime mortgage ker …
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Shame of the gnomes
June 13, 2008
… These trackless trillions included CHF15.3 billion of subprime mortgage exposure, which consisted of CHF6.6 billion of CDOs and CHF8.7 billion of residential …
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99.1% alchemy
March 23, 2007
… And while the subprime residential market has so far hogged the headlines, credit spreads on the weaker classes of com- mercial mortgage-backed securities (CMBS …
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Merrill’s mortgage blowout
August 8, 2008
… In the case of Maxim High Grade CDO I, the assets consist of resi- dential mortgage-backed securities, both subprime and Alt-A, and portions of other …
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As specific a forecast as you’ll read here
March 23, 2007
… With the snapback in stock prices and the insistence from Fed speechmakers that the subprime virus is not contagious, the interest-rate futures markets have …
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Mortgage contagion update
May 18, 2007
… will never be confused with houses (not with the better kind of houses, anyway), but a credit contrac- tion resembling the one in subprime finance has begun to …
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Ace in the hole
March 7, 2008
… Sept. 8, 2006. Now unfolds our fourth analysis. The old heap of subprime mortgages is starting to look like family. To anticipate …
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Rallying ’round Ambac
October 19, 2007
… Lucas and Murray are right in the mid- dle of the analytical mainstream in their estimates of final losses for the RMBS; 11.2% of 2006 subprime deals will be …
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Universal cooling
April 17, 2009
… It was, indeed, to compensate for the declining trend in household formation that our financiers invented subprime mortgages, Coxe contended. …
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Default du jour
June 13, 2008
… kind of CDO we’re talking about is the asset-backed securities model, the assets consisting chiefly of mortgages, including the default-prone subprime and Alt …
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Hey, you—you’ll do!
September 10, 2004
… Though low-doc loans are not new, extending them to subprime customers is, and some mortgage insurers and lenders are worried about the trend. …
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Don Kohn, say hello to Barney Frank
January 12, 2007
… They include blowups in corpo- rate credit and subprime mortgages as well as the explosive potentiality of the global carry trades (in which speculators fund …
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Sell Moody’s again (Grant’s, March 9, 2007)
July 13, 2007 (Full Issue Only)
… growth, is roiled. The subprime mortgage market is in crisis, a crisis in no way anticipated by Moody’s ratings actions. Yet the …
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On the call
July 29, 2005
… For the smoking subprime seg- ment, gain-on-sale margins plum- meted to 190 basis points from 282 basis points in the first quarter (and from 466 basis points …
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End of the honor system
December 14, 2007
… terms. From March through November, according to Bloomberg data, $161 billion of subprime liens were originated and securitized. …
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Bye-bye, then, $500 billion
October 31, 2008
… is how Mikhailovich described the salvage possibilities in CDOs stocked with resi- dential mortgage-backed securities, mainly of subprime and Alt-A caliber. …
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Sell Moody’s again
March 9, 2007
… growth, is roiled. The subprime mortgage market is in crisis, a crisis in no way anticipated by Moody’s ratings actions. Yet the …
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Value restoration: a progress report
November 16, 2007
… ple?). But it happens to be at the cen- ter of our trillion-dollar subprime drama. … quality. Mainly, in fact, they are subprime. …
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Goodnight, sweet Supermodel
June 26, 2009
… “Popular,” colleague Dan Gertner relates, “is a subprime deal consum- mated in one of the worst years for subprime deals, 2007. …
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Drip by drip by drop
September 21, 2007
… We could venture so grand a generalization because the trillion-plus dollars of subprime mortgage structures were still quoted in the market on erro- neous …
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After the house party
July 29, 2005
… I don’t care if they are prime or subprime, if someone is ‘stealing’ your customers, most firms will counterattack by meeting the bid. …
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On the coming shortage of labor
October 30, 2009
… in jobs that “the Census Bu- reau didn’t even list as occupations in 1967.” No doubt, the year of the study being 2003, “subprime mortgage origination …
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Bullish on money
July 18, 1997
… which began in the fall of 1990, has begun to fray around the edges, par- ticularly in consumer finance (and still more particularly in subprime auto finance). …
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Risk in mortgages
May 20, 2005
… origination of Alt-A, sub- prime and investor product.” (Alt-A are the mortgage market’s equivalent of low-investment-grade credits; “subprime” is self …
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Triple-A’s to the woodshed
July 27, 2007
… an original rating of triple-A. Residential real estate wasn’t the problem in 2000-04; junk bonds, air- craft, manufactured housing, subprime credit cards and …
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Introducing the Grant’s Supermodel Credit Portfolio
December 12, 2008
… hand may quaver when you write the check (if you are follow- ing along at home), as the Popular bond—triple-A-rated Class A-3— houses subprime mortgages. …
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Opportunists’ picnic
February 6, 2009
… hypothetical. Grant’s rather brushed them aside in the prior issue, at least as they related to subprime and most Alt-A mortgages. …
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Invest—then investigate
January 25, 2008
… the office with Michael Levitt, founder of Stone Tower Capital LLC, which has been a partner of Bear Stearns in develop- ing the subprime securities business …
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Horrible? Certainly. Bearish? Not necessarily.
June 12, 2009
… 40 50 60 70 80% 0 10 20 30 40 50 60 70 80% Alt-A: 55% subprime: 73% prime: 43% Alt-A: 55% subprime: 73% prime: 43% Page 3. article-GRANT’S/JUNE 12, 2009 3 …
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Not so preferred
March 21, 2008
… Then, too, Fannie has guaranteed $318 billion of Alt-A mort- gages and $13 billion of the subprime kind. It owns Alt-A and subprime …
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Angelo Mozilo reconsidered
August 10, 2007
… Subprime, which accounts for a mere 4% of originations, actually registered gain-on-sale margins of 3.5%, up substantially from a loss in the first quarter …
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Inside ACE Securities’ HEL Trust, Series 2005-HE5
September 8, 2006
… “We were actually long the subprime lending stocks until four or five months ago. We have been short the housing stocks since last summer. …
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The trouble with Prosperity
July 11, 2008
… do not participate in indi- rect lending programs, and we do not participate in shared national credits, and, finally, we are not involved in subprime lending. …
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Pillars of faith
September 7, 2007
… Were the triple-A-rated tranches of a mezza- nine CDO backed by subprime mort- gages truly equivalent in credit quality to a US Treasury note? …
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Across the valley
November 30, 2007
… Might those investments, someone asked on the call, encompass “any subprime residential mortgage- backed securities or collateralized debt obligations with …
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Paradox of safety
April 3, 2009
… established au- thority. In our case, they were triple-A rated tranches of subprime residential mortgage-backed securities. To quote …
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Enough distress to go around
January 11, 2008
… cycle, Fridson ventures. We concur. The non-containment of the “subprime crisis” is becoming clearer all the time. For one thing …
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English majors’ revenge
August 11, 2006
… these days, is only as strong as the CDOs into which are packed hundreds of bil- lions of dollars of housing-related debt (prime and subprime, “cap corridor …
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Not the euro, either
July 13, 2007
… Doves, meanwhile, are curious how this stance sits with a housing market that appears nowhere near bottom and a subprime lending cri- sis that grows less …
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Joe and Jane, stay away; all others welcome
February 9, 2007
… What would a recession do to this residential mortgage market, unsteady as it is (at least, in the subprime depart- ment) in the midst of prosperity? …
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English majors’ revenge (Grant’s, August 11, 2006)
July 13, 2007 (Full Issue Only)
… these days, is only as strong as the CDOs into which are packed hundreds of billions of dollars of housingrelated debt (prime and subprime, “cap corridor …
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Triple-A upgrade
March 6, 2009
… Though the assets over- whelmingly were subprime, no less than 76% of the liabilities were rated triple-A. The financial engineers assumed that house prices …
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The Central Bank of You and Me
November 30, 2007
… For one, the market can see how badly the Fed underestimated the grav- ity of what is still, today, inadequately described as the “subprime” crisis rather …
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Riding the refi wave
January 9, 2009
Page 1. “We were actually long the subprime lending stocks until four or five months ago. We have been short the housing stocks since last summer. …
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Origination goat
December 1, 2006
… RATE OBSERVER The reigning pariah of the asset- backed securities market (subprime- mortgage origination division) insists that it’s turned over a new leaf. …
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She’ll start fucking an MD in her group and quit the business within a year.
@67 that is exactly the problem. Anyone who was smart enough to figure out that their bosses were taking on too much risk were then fired by their stupid bosses. ipso facto.
@70 you’re a fucking moron.
@71 knows what’s up. It’s far easier to lie on your back than do actual work.
someone hit that like a freight train without breaks.
All you jealous guys w/ horse faced greenwich wives r so jealous. she is way hotter than alex garcia cohen and her lumpy buttocks.
http://www.hks.harvard.edu/m-rcbg/students/dunlop/2009-CDOmeltdown.pdf
The summary: “Overall, my findings suggest that the problems in the CDO market were caused by a combination of poorly constructed CDOs, irresponsible underwriting practices, and flawed credit rating procedures.”
OK, thanks McGruff.
However, for an undergrad paper, it shows good understanding of a complex area. She’ll do well in finance.
This is a better explanation (and came years earlier)
http://www.wikio.co.uk/video/351257
The real question is whether or not A.K. B-H vajazzles or not…
@76 “good understanding of a complex area. She’ll do well in finance” Precisely.
I despair with some of you. The point isn’t that her paper comes up with startling conclusions that no-one knew but rather that it incorporates original research that proves, on paper, what people like Paulsen knew but are/were too busy making money to be bothered writing a fucking paper proving they were right. She did and she has done a good job.
can we put a character limit on posts in light of 70
79 is AKBH (and she rudely failed to answer 78′s question).
Did anyone read the research paper? I can’t believe she works for the same idiots that created this crisis. Did she learn anything from her research???? A smart woman like her should do something more useful than to be wasting her time created bullshit financial reports. She needs to go after these companies not join them.
@79 what’s it like to be the bf of an internet sensation?
@70 – I hate you. I hate you so bad for that excessive post.
@79=A.K.B-H
Would someone check her out and report back here re: handbridge or not?
@81 and @84
If I only looked that good. Sigh.
She’s a wideclops! I’d still bend her over the chair as she recites her thesis!
@82 – you must have been born before 1975. FOr people born after 1975, the sole prupose of attending a university like Harvard or writing a great thesis is to get a job that pays you heaps of money.
The content and authenticity of the thesis is irrelevant so long as the final product is marketable and gets attention. Michael Lewis and a lot of the boomers posting on this board don’t realize that we would rather work at GS than attend Woodstock, and that being rich and famous is of paramount importance. The fact that it’s a sick game does not matter because the winners of the game are society’s winners.
34 WINS!
- Winna Choosa
@ 70 – you define TLDR.
She can play an instrument, she’s smart to realize economics beats libarts – can I have her phone number?
@88 – Not following your pre-1975 comment. Ever hear of the “Me Generation”? It is the Boomers who attended Woodstock and are the same ones who created much of the current mess. Anyone born post-1975 is just playing catch-up.
Being born after 1975 is the new killin’ it.
Yeah 82 – just because she got self-righteous over a coffee with a reporter does not mean she actually believes she can change IBs from within. She’s there for the money and prestige. Simple. She won’t change a fucking thing.
@87 – she is not a wideclops – thats the angle of the picture – see the picture that BI had originally of her in cap n’ gown – the eyes are rightly spaced apart – no huge gap.
- Wideclop Expert
http://www.musicforyouth.org/features-barnetthart.html
http://www.musicforyouth.org/features-barnetthart.html
@94 – looks like the girl from Damages.
well that’s totally fucked up. guess she’s just a rennaisance gal. hb for sure.
Why no info on her dating situation? Most attractive on Street?
@98 “Most attractive on Street?” are you…serious? even if you took out IR chicks, no fucking way.
Perfect SEC candidate.
This girl is a star. Talented violinist, accomplished academic, hopefully successful banker. Good work, A.K.
This girl is a star. Talented violinist, accomplished academic, hopefully successful banker. Good work, A.K.
This girl is a star. Talented violinist, accomplished academic, hopefully successful banker. Good work, A.K.
@101,102,103 – so you nutted 3 times beating offf on this chick?
Can someone explain to me the handbridge thing. I’ve been a DB reader for at least a year, but I think I missed the handbridge post.
@105 here. Nevermind, I found it on Urban Dictionary, thanks to NakeShort.
Someone with better contacts than me, please report @70 to the North Koreans for appropriate measures…
“Last October, Barnett-Hart, already pulling all-nighters at the bank (we agreed to not name her employer), received a call from Lewis, who had heard about her thesis from a Harvard doctoral student. Lewis was blown away.” (WSJ)
Seriously now. She is getting quite a warm and inviting bit of verbal cunnilingus, and the reasons are obvious.
Because she is attractive, any number of men, from Michael Lewis to the reporter to current and future potential employers, are lining up to eventually suck the life out of that reasonably attractive freshness.
Don’t fault her. Obviously smart and capable and good looking. Fault the men stuck inside her mental vagina, tongues all hanging out and dripping with praise.
Michael Lewis’ next new new plaything… in due time.
does she work in HR?
@70 – wtf
@1 – A to the motherfucking K homeboy..
and doesn’t anyone realize SHE is most definitely reading these comments?
now nobody has a chance.
@70 – wtf
@1 – A to the motherfucking K homeboy..
and doesn’t anyone realize SHE is most definitely reading these comments?
now nobody has a chance.
So what exactly does she do for GS now?
Watch her on TV:
http://watch.bnn.ca/squeezeplay/march-2010/squeezeplay-march-26-2010/#clip281603
http://blogs.wsj.com/deals/2010/03/30/michael-lewiss-the-big-short-watch-video-of-harvards-cdo-whiz-kid/?mod=wsj_share_twitter