"Most people here, accountants, lawyers and bankers, are trying to work out how they can make money out of the problem rather than what the solutions is."--Jonathon Laredo, founder of Solent Capital Management and former head of structured finance for Europe and Asia at JPMorgan, commenting on derivative professionals' reaction to the introduction of International Accounting Standards at the European Derivatives Accounting Summit (DW, 12/1).
"We are not launching futures. We are licensing an exchange to do this."--Lars Hamich, executive director at Dow Jones Indexes, commenting on the firm's strategy for developing a credit derivatives futures market (DW, 12/15).
"So many of us have to pay for the sins of a few."--Ernest Patrikis, International Swaps and Derivatives Association board member and senior v.p. and general counsel at American International Group, commenting on the origins of recent legislation, including FAS 133 (DW, 9/29).
"CDOs are horrendously lacking in price transparency."--Nick Horsfall, a specialist in asset allocation for bond related products at Watson Wyatt, in London, commenting on the reasons why more U.K. pension funds do not invest in CDOs (DW, 9/15).
"I'm moving to Hawaii."--Jim Clark, Japanese head of equity trading at UBSin Tokyo, explaining what he will do in retirement (DW, 6/30).
"Like all marriages, however, the trade suffers from the difficulty of finding a good partner."--Robin Lenna, head of credit capital management at FleetBoston Financial, commenting on the trials and tribulations of arranging a perfect risk swap (DW, 6/9).
"There has been a lot of interest on the buyside [synthetic convertibles] because the convertibles market is almost completely busted--there is a lot of money chasing very little issuance."--Pavel Verzhbitsky, convertibles research analyst atLehman Brothersin London, commenting on why investors are starting to buy synthetic convertible bonds (DW, 4/28).
"Clients were gagging to get into the gamma."--Lars Ahlgreen, senior foreign exchange trader at Crédit Agricole Indosuez in London, commenting on traders' desire to snap up short-term euro/Swiss franc options as volatility jumped 50 basis points in July (DW, 7/14).
"This means no fussing and mussing over CDOs."--John Mullen, global head of structured credit markets at ABN AMRO in London, on making credit trading and ABS a joint venture (DW, 1/20).
