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Opinion

Off the Record

"It is very hard to distinguish a catastrophe CDO from any other type of CDO in this market – aren’t all CDOs catastrophes?"
An insurance expert grapples with the terminology

"CDOs are like roaches. No matter that you kill them off they always come back"
A CDO manager has another take on CDOs and makes light of the slowdown in primary flows in his business

"It always reminds me of a criminal line-up: ‘Oh look, the usual suspects are here’"
A fund manager in Hong Kong on the small world of bidders for big-name private equity deals

"That’s shot your planes down, Louis!"
A delegate at the ECBC plenary meeting in Milan after VDP chief Louis Hagan’s announcement of a forthcoming aeroplane Pfandbrief product was rubbished by the chief German regulator

"A colleague of mine over from New York is used to seeing his deals close in a couple of weeks. He gets here to work on a Chinese deal and discovers the credit committee of the acquirer meets precisely once a month and won’t deviate from that schedule. Four months later we’re still waiting on a decision"

Business can happen at a different pace in Asia, as a banker at a US firm working on buyouts in Hong Kong relates

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