"I don't actually exist."--David Bullen, foreign exchange options trader atNational Australia Bank,outlining his unusual response to being suspended while the NAB investigates rogue trading losses (DW, 1/26).
"When you stand up for your industry, you are defending America."--Phil Gramm, vice chairman ofUBS Investment Bank, getting carried away at theInternational Swaps and Derivatives Association's annual general meeting in Chicago (DW, 4/5).
"This could be very painful for many corporates."--Stephen Robbins, an accounting and tax specialist in the global risk solutions group atBNP Paribasin London, commenting on the impact of new tax treatment if the U.K. government does not amend its finance act (DW, 6/21).
"If God tells you the stock market will go up every day then options are worthless."--Stan Jonas, managing director in the derivatives products group at brokerFimat USAin New York, drawing an analogy with theFederal Reserve's influence over the interest rate market (DW, 7/5).
"This could be the Holy Grail for banks--they would love to securitize their SME loans."--Ben McCarthy, senior director and head of Asia-Pacific structured finance atFitch Ratingsin Hong Kong, commenting on the budding collateralized debt obligation of small and medium-sized loans (DW, 7/12).
"These products have been around now and the sky hasn't fallen so people are accepting them more and more."--Craig Swanger, head of structured products and alternative investments atMacquarie Bankin Sydney, explaining why it plans to launch another collateralized debt obligation for retail investors (DW, 9/6).
"We have to consider that the CDO system was created to either dump assets from Barclays balance sheet into its customers portfolios or to make huge profits at the expense of its investors."--AnHSH Nordbankinternal document laying out the bank's allegations againstBarclays Bank(DW, 11/25).
"The people who have been hurt are the people we persuaded about a year ago... If it continues like the last six months, we're in trouble."--Brian Strange, portfolio manager in the currency management group at JPMorgan Fleming Asset Managementin London, commenting on pension fund losses in the foreign exchange market (DW, 11/1).
"We don't want to bore [investors] to death with the 23rd index tracker."--Thorsten Wegener, head of sales in equity markets atWestLBin London, explaining its plans to build a U.K. structured products business (DW, 12/13).
"[Dealers' correlation books] look like an accident waiting to happen."--Frederick Horton, managing director atTrust Company of the West, voicing his concerns about the theory behind single-tranche collateralized debt obligations (DW, 02/16).