CDO Waterfalls and the Super Senior Advantage
Book: Structured Finance and Collateralized Debt Obligations | Author: Janet M. Tavakoli | Publisher: John Wiley & Sons (2008) | ISBN: 978-0-470-44344-6
Janet m tavakoli
Cash vs Synthetic Arbitrage CDOs: What's the Difference?
Book: Structured Finance and Collateralized Debt Obligations | Author: Janet M. Tavakoli | Publisher: John Wiley & Sons (2008) | ISBN: 978-0-470-44344-6
Bear Stearns, Hedge Funds, and the Mortgage Fallout
Book: Structured Finance and Collateralized-Debt-Obligations | Author: Janet M. Tavakoli | Publisher: John Wiley & Sons (2008) | ISBN: 978-0-470-44344-6
Subprime and Alt-a Mortgages: How the House of Cards Was Built
Book: Structured Finance and Collateralized Debt Obligations | Author: Janet M. Tavakoli | Publisher: John Wiley & Sons (2008) | ISBN: 978-0-470-44344-6
Commercial Financial Services: An Early Warning Nobody Heard
Book: Structured Finance and Collateralized Debt Obligations | Author: Janet M. Tavakoli | Publisher: John Wiley & Sons (2008) | ISBN: 978-0-470-44344-6
Early CDO Technology: How It All Started
Book: Structured Finance and Collateralized Debt Obligations | Author: Janet M. Tavakoli | Publisher: John Wiley & Sons (2008) | ISBN: 978-0-470-44344-6
CDO Risk and Valuation: When Models Meet Reality
Book: Structured Finance and Collateralized Debt Obligations | Author: Janet M. Tavakoli | Publisher: John Wiley & Sons (2008) | ISBN: 978-0-470-44344-6
CDOs and How They Shaped Global Capital Markets
Chapter 4 is where Tavakoli steps back from mechanics and tells the story of how the CDO market grew. The chapter is titled “CDOs and the Global Capital Markets” and it covers roughly 20 years of history – from the junk bond era of the late 1980s through the explosive synthetic CDO growth of the 2000s to the beginning of the unraveling in 2007.
Total Return Swaps, Synthetic CDOs, and Credit Indexes
The second half of Chapter 3 picks up where the credit default swap discussion ended and covers total return swaps, CDS pricing, synthetic CDO structure, equity TRORS, information asymmetry, pay-as-you-go templates, and the credit indexes that eventually let people bet against the subprime market.
Credit Derivatives and Default Swaps: The Basics
Credit derivatives are where Chapter 3 begins, and they’re where the CDO story gets complicated. These instruments – primarily credit default swaps – turned the credit market from a buy-and-hold business into a trading business. They made the CDO market possible at the scale it reached. They also introduced risks that many participants didn’t understand.
Trusts, Conduits, and the Myth of Bankruptcy-Remote Entities
The first half of Chapter 2 covered how SPEs are set up, where they’re domiciled, and how repackaging structures work. This half gets into the specific types of trusts and conduits used in U.S. securitization – and into a harder conversation about what “bankruptcy-remote” actually means in practice.
Special Purpose Entities: The Hidden Architecture of Structured Finance
Every securitization needs a container. An entity that holds the assets, issues the securities, and exists separately from the people who put it together. That container is the special purpose entity.
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.
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.”