Word: morganized
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...Vereinsbank, the Landesbank Berlin (LBB) and Credit Suisse. The LBB was privatized in 2007. Expecting that LBB would be downgraded by ratings agencies, BVG was planning to insure its assets through another state-owned bank in Germany, the Landesbank Baden-Wuerttemberg. But city officials say BVG's advisor, J.P. Morgan, suggested the transit company spread the risk by insuring the deal through a collateralized debt obligation, or CDO, backed by a consortium of some 150 banks and insurers that included AIG and Lehman Brothers...
...future of AIG, BVG fears that the U.S. investors could demand as much as $200 million in additional collateral. As a precaution, the transit company has taken a risk provision of €157 million ($208 million) on its balance sheet. BVG says that when the deal was done, J.P. Morgan assured that it would not be liable unless the majority of its CDO backers became insolvent. "But they misled us," says Reetz. "It now appears that we could be made liable even if just one of the backers becomes insolvent, as has happened." J.P. Morgan declined to comment...
...Morgan has yet to demand payment from BVG, but in October the bank filed with a London court to ensure that London would be the jurisdiction for any court proceedings with BVG. That move possibly suggests that J.P. Morgan is preparing a claim against BVG. Reetz, the BVG spokeswoman, says the transportation company learned of the J.P. Morgan filing last week when BVG filed to have a trial in Berlin should there be one. "So far, no one has come forward with any demands for payment. But if they do, we will fight them in court. And we want...
...Investment Corp. poured $3 billion into New York City--based private-equity firm Blackstone in return for a 10% stake in the company--just before the bottom fell out of U.S. debt and equity markets. That deal was followed by a $5 billion purchase of a 9.9% stake in Morgan Stanley, whose share price has since fallen by more than half...
...some seminar participants were new to the life of pads, heels, glue and lashes. Jia Hui Lee ’12 plans to debut as a Balinese princess next week. “I’m hoping for an exposure”, he says. On the king side, Morgan L. Haven-Tietze ’10 has yet to set plans for her first show. “I want to make a glorious fool out of myself,” she says from underneath a gruff and virile porn-stache. In the end, even for the pros, drag...