I sure did. And today....

RBS loses CDO executive and six others

Royal Bank of Scotland became the latest bank to admit discomfort from the credit crunch as it parted company with the head of its once-booming collateralised debt obligations unit. Rick Caplan, managing director and co-head of CDOs at RBS Greenwich Capital in the US, has left the bank, along with six of his colleagues. RBS aggressively and profitably marketed CDOs - packages of sub prime mortgages and other asset-backed securities - both originating deals and then selling them on. It is not clear whether RBS has sustained losses. The trading book of its global banking and markets division was worth £16 billion at the half-year, although CDO trading was a small part of this total.

Bad times. But what goes around..

Posted By: Stoopish, Aug 30, 09:07:28