Remove Balance Sheet Remove Cash Flow Remove Document Remove Operations
article thumbnail

2008 Financial Crisis – Causes and historical context

Tom Spencer

The senior slices of a CDO were considered to be safer because they had first priority on cash flows received from the pool of mortgages in the event of default. Mortgage originators often lent the entire purchase price of a house without asking for documentation to verify the borrower’s income, assets, and employment status.

article thumbnail

Shockingly Bad Fiscal Health of Chicago (and the Financial Engineering Chicago Uses to Hide that Fact)

MishTalk

Kristi Culpepper, a bond guru, has gone over Chicago''s annual financial report, bond documents, investor presentations, and CAFRs. The Corporate Fund is Chicago’s general operating fund. Chicago’s property tax revenues do not go into its general operating fund. public safety and trash collection).