/PRNewswire/ Data Driven Holdings (DDH) is launching Qualified Customer (QC), a transactional consumer-data marketing company. QC identifies and targets.
/PRNewswire/ Data Driven Holdings (DDH) is launching Qualified Customer (QC), a transactional consumer-data marketing company. QC identifies and targets.
subprime mortgage market suffered a broad collapse. goldman sachs also had no economic motive to design the ac-1 transaction to fail. quite the contrary, we held long exposure in the transaction just like aca, and just like ikb. when they referenced in value, we lost money, too, including $83 million with respect to the loan position. finally, aca selected the portfolio securities referenced in the transaction and not paulson. aca had sole authority to describe what securities would be referenced in the transaction and it does not dispute that fact. neither the paulson fund or goldman sachs could have the security reference in the deal. paulson s funds made suggestions to aca as did ikband goldman sachs. they rejected most of paulson sing ises while accepting others. so while paulson, goldman sachs,
my role in it. i appreciate the opportunity to answer those questions, and i want to make a few points absolutely clear. first, the only two investors in the transaction, aca and i kbwere institutions with extensive experience in the cbo market. second, i never told ata, the portfolio selection agent that paulson and company would be an equity investor in the ac-1 transaction or would take any loan position in the deal. although i don t recall the exact words i used, i recall for aca that paulson s fund was expected to buy credit protection on some of the senior tranches on this deal. this meant that paulson was expected to take some short position in the transaction. moreover, from the early stages of the transaction in january 2007 to its completion several months later, none of the offering documents provided to aca indicated that paulson s fund would be an equity