Securitization Terminology: What You Need to Know First
Before you can understand CDOs, you need the vocabulary. Chapter 1 of Tavakoli’s book is essentially a glossary with context – she defines the key terms and explains why they exist.
Cdos
Why I'm Reading a 2008 Book About CDOs and Structured Finance
Some books age badly. This one didn’t.
Janet M. Tavakoli wrote Structured Finance and Collateralized Debt Obligations in 2008 – the second edition – right as everything was falling apart. The subprime mortgage market had just imploded. CDO losses were spreading across the global financial system. Banks were writing down billions. And Tavakoli was sitting there going: “I told you so.”