tag:blogger.com,1999:blog-8040007778377298809.post316955203594150200..comments2007-08-08T08:15:56.701-04:00Rick Bookstaberhttp://www.blogger.com/profile/01753622527319607465noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8040007778377298809.post-24563672548992791882007-08-08T01:36:00.000-04:002007-08-08T01:36:00.000-04:00While this was going on, ex-Drexel bankers (including Apollo), took advantage of their extensive knowledge of the issuers to cherry-pick bonds at significant discounts; earning fortunes in the process.<BR/><BR/>The lack of transparency in the CDO/CLO/CMO products (or their derivatives) may create similar opportunities to any who have an information advantage. We may soon find out who actually understands the underlying credit quality based on who emerges as winners in this process.Lawrence D. Loebhttp://www.blogger.com/profile/05600981191177652648noreply@blogger.com