• Citigroup, SIV

    Citi Bails Out Its SIVs

    The move everyone but Citi seems to have known was inevitable came to pass last night when Citi announced it would consolidate $49 billion of assets in its seven SIVs. The SIVs were facing a likely ratings downgrade, which would resulted in their immediate collapse. The debt of Citi’s SIVs reportedly has ratings covenants that […]

    / Dec 14, 2007 at 10:04 AM
  • SIV

    DealBreaker Awards: An Early Winner!
    SIV Portfolio Wins For Honesty

    We’re gearing up for our annual DealBreaker of the Year award here. (Send nomination to But we’ve found an early candidate for the smaller—much smaller, given the recent behavior of Wall Street’s banks and brokerages—category for the award in “Truth In Advertising.” The award for the most honest name in finance today goes to […]

    / Nov 13, 2007 at 1:02 PM
  • Banks, Goldman Sachs, Royal Bank of Scotland, SIV

    Goldman RBS Leads Cheyne Finance Bailout

    The news on Friday that a court had issued an order allowing Cheyne Finance, the London based SIV, shiv it’s creditors by ceasing payment on its commercial paper is, somehow, good news. At least, it’s good news for Goldman’s prime brokerage business, according to the Telegraph. How’s that work? If it’s too early in the […]

    / Oct 22, 2007 at 9:22 AM

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