Nationally renowned forensic accounting expert, Thomas A. Myers, explains the fundamentals of credit defaults swaps and synthetic CDOs (collateralized debt obligations). These structured finance products were at the heart of the market meltdown, and were the building blocks of numerous allegedly fraudulent transactions, including the Goldman Sachs ABACUS deal, a transaction that caused the SEC to take significant action.
Via The Trader
For more information on the Goldman ABACUS deal, including an overview of the alleged fraud, visit the T.A. Myers & Co. website: