Forensic Accounting Expert, Thomas A. Myers | CDS and Synthetic CDOs Explained (VIDEO)

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.

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4closureFraud.org

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2 Responses to “Forensic Accounting Expert, Thomas A. Myers | CDS and Synthetic CDOs Explained (VIDEO)”
  1. Equity Free says:

    And the people primarily in Europe and the US are being forced to pay of the debt that these failed bets accumulated .
    Wall Street created it , made obscene money, now need to pay back their ill gotten gains and do jail time equal to the crime committed .
    The economy is for the people not just the investors !

    • Attorney Wendy Alison Nora says:

      Good insight here. Goldman Sachs is involved in cooking the books on the EU common currency treaty. Greece, Italy, Spain and possibly Ireland were allowed entry into the common currency by demonstrating compliance with the treaty debt/GDP ratio. The compliance was arranged by off-book manipulations of the debt by Goldman, which has written credit default swaps on the predictable defaults, just like the bundled sub-prime mortgages which were created for purposes of profiting on the default. Why aren’t there are governments wise or strong enough to declare sovereign debt forgiveness on these fraudulent debt instruments? It has been done in Latin America in the past with initial good results.

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