Goldman’s controversial “ABACUS 2007-AC1″ synthetic CDO turns out to be a very complicated deal. This is not your grandfather’s vanilla mezzanine RMBS synthetic CDO. It is, in some sense, a supersynthetic CDO.Steve Randy Waldman has a couple of detailed posts on Goldman's ABACUS:
Deconstructing ABACUS
A knife fight is not a mediation
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