Tranche Quotes & Sayings

There is, however, a far more common ailment among us - and that is pride from the bottom looking up. It is manifest in so many ways, such as faultfinding, gossiping, backbiting, and murmuring, living beyond our means, envying, coveting, withholding gratitude and praise that might lift another, and being unforgiving and jealous. — Ezra Taft Benson

For though there was no chance of persuading a pension fund manager looking to make a longer-term loan to buy a Freddie Mac bond that could evaporate tomorrow, one could easily sell him the third tranche of a CMO. — Michael Lewis

Take a typical three-hundred-million-dollar CMO. It would be divided into three tranches, or slices of a hundred million dollars each. Investors in each tranche received interest payments. But the owners of the first tranche received all principal repayments from all three hundred million dollars of mortgage bonds held in trust. Not until first tranche holders were entirely paid off did second tranche investors receive any prepayments. Not until both first and second tranche investors had been entirely paid off did the holder of a third tranche certificate receive prepayments. — Michael Lewis

With our knowledge of modern-day genetics, we realize that it was possible for God to place the potential for all people throughout history into the genes of Adam and Eve when He created them. — Walter Lang

There's no more place in the euro zone for well-meaning laxness when dealing with deficits and failings. If the demands on Greece aren't taken seriously, we'll get stuck in quicksand. In the worst case, this would make it acceptable for one tranche to not be paid out. It is in the Greeks own interest not to test that. — Peer Steinbruck

I just mix and put things together the way the spirit moves me. — Iris Apfel

What's wrong vs Right with you It's not a question of what's wrong with you, it's a question of what's right with you. — Al Duncan

Goldman Sachs itself - and so Goldman was in the position of selling bonds to its customers created by its own traders, so they might bet against them. Secondly, there was a crude, messy, slow, but acceptable substitute for Mike Burry's credit default swaps: the actual cash bonds. According to a former Goldman derivatives trader, Goldman would buy the triple-A tranche of some CDO, pair it off with the credit default swaps AIG sold Goldman that insured the tranche (at a cost well below the yield on the tranche), declare the entire package risk-free, and hold it off its balance sheet. Of course, the whole thing wasn't risk-free: If AIG went bust, the insurance was worthless, and Goldman could lose everything. Today Goldman Sachs is, to put it mildly, unhelpful when asked to explain exactly what it did, and this lack of transparency extends to its own shareholders. If a team of forensic accountants went over Goldman's books, they'd be shocked at just how good Goldman is at hiding things, — Michael Lewis

If the government announced that it was going to allocate a vast tranche of education funding purely to the pupils at the best public schools, there would be a national outcry - and yet this is precisely what the Olympics represents in terms of sports funding. — Will Self

The triple-A tranches all traded at one price, the triple-B tranches all traded at another, even though there were important differences from one triple-B tranche to another. As the bonds were all priced off the Moody's rating, the most overpriced bonds were the bonds that had been most ineptly rated. And the bonds that had been most ineptly rated were the bonds that Wall Street firms had tricked the rating agencies into rating most ineptly. "I cannot fucking believe this is allowed," said Eisman. — Michael Lewis

The only show my mother could afford to take me to when I was growing up was 'Cats', for my birthday. — Tammy Blanchard

Christian spirituality had been strongly influenced by Platonism, which sought to liberate the soul from the body, but in some circles in the early fourth century, people were beginning to hope that their hitherto despised bodies could bring men and women to the divine - or at least that it was not a reality separate from the physical, as the Platonists held.25 — Karen Armstrong

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 what they were doing with these securities. Creating things that you don't understand is really not a good idea no matter who owns it. — John Thain

But the Universe is an awfully big place. There is room enough for an awful lot of people to be right about things and still not agree. — Kurt Vonnegut