Custom Search

Sunday, April 18, 2010

Goldman's counsel is married to ACA's portfolio selection agent

Check out this story:

Friday, as news of the allegations of fraud at Goldman Sachs spread, I got a call from someone who works in the insurance business.

"Check out the former head of ACA" he said referring to the now-defunct and formerly down-graded bond insurer who asked the-not-so-omniscient hedge fund manager John Paulson to choose which securities to put into the CDO, Abacus, that Goldman Sachs subsequently sold to two big clients, the German bank IKB and the Royal Bank of Scotland -- without disclosing that Paulson would be shorting his own hand-picked stocks on the other side of the trade.

Now the SEC's complaint states that ACA had no idea that Paulson was shorting the stocks he'd been asked to select, yet my deepthroat was not so convinced.

My source told me to check out who the head of ACA was married to. "I think you'll find it's a senior woman at Goldman Sachs," he said.

Well, yep, it is.

Alan S. Rosenman took over ACA Capital as president and CEO in 2004 - because -- wait for it -- his predecessor Michael Satz had "personal income tax issues" -- (how murky is this story going to get you must be asking?)

According to a Business Week article dated April 3 by David Henry and Matthew Goldstein, Rosenman "immediately began to push ACA into CDO insurance, an area his predecessor, Satz, had only begun to explore."

Rosenman's wife, or at least partner -- they are listed as sharing a house together for which they paid $6.1 million in 2005 in New York -- is Frances "Fran" R. Bermanzohn, who is managing director and deputy general counsel at ... Goldman Sachs.

Hmmmn.

I called Mr. Rosenman who gave me the illuminating statement: "I am not offering any comment at this time."

I asked him, did he ever disclose their relationship to buyers of Abacus? Did she? And Could ACA really therefore not have known about Paulson's activities?

"No comment."

17 comments :

Anonymous said...

Hah "short pants" Paulson!

Anonymous said...

Jeez this literally makes GS and ACA in bed together !

Anonymous said...

Great site / I never see aaronandmoses.blogspot.com before in my yahoo Drive up your nice work!

Anonymous said...

aaronandmoses.blogspot.com Exclusive delirium, in my opinion

Anonymous said...

It exclusively your opinion aaronandmoses.blogspot.com

Anonymous said...

I join aaronandmoses.blogspot.com. It was and with me. Let's discuss this question.

Anonymous said...

aaronandmoses.blogspot.com Exclusive delirium, in my opinion

Anonymous said...

It exclusively your opinion aaronandmoses.blogspot.com

Anonymous said...

Best site / I doesn't see aaronandmoses.blogspot.com before in our google Bring up your nice work! พระเครื่อง [url=http://www.pornpra.com/][b]พระเครื่อง[/b][/url]

Anonymous said...

A good man is hard to find. (Good men are scarce).

Anonymous said...

Hello to person on this large forum. Include me introduce myself. I am professional and i am competition this website :
fut ile sac ekimi
Waiting for all these friends.
King Regards

Unknown said...

uggs outlet
coach outlet online coach factory outlet
louis vuitton handbags
cheap oakley sunglasses
nike trainers
fitflops
michael kors
oakley sunglasses
rolex watches for sale
fitflops sale clearance
chanyuan2017.01.22

爸爸 x said...

20170624 junda
michael kors outlet online
coach outlet
foamposite shoes
coach factory outlet
ralph?lauren?polo?shirts
christian louboutin sale
kobe bryants shoes
ralph lauren outlet
lebron shoes
nfl jersey wholesale

郑佳颖 said...

nike zoom
adidas stan smith women
adidas gazelle
jordan retro
air max 90
adidas yeezy boost
adidas shoes
adidas yeezy
air jordans
nike air max

raybanoutlet001 said...

converse trainers
ugg boots
cheap nfl jerseys
oakley sunglasses
ugg boots
yeezy boost 350 white
oakley sunglasses
chicago bulls jersey
cheap ugg boots
nhl jerseys

郑佳颖 said...

adidas yeezy
yeezy
adidas ultra boost
basketball shoes
pandora bracelet
michael kors factory outlet
longchamp outlet
nike dunks
jordan retro
retro jordans

xjd7410@gmail.com said...

20171017 junda
oakley sunglasses
los angeles lakers jerseys
longchamp bags
michael kors outlet clearance
air jordan shoes
coach outlet
canada goose outlet
polo ralph lauren outlet
coach outlet
coach outlet