Your English writing platform
Discover LudwigExact(36)
("Super senior?" You gotta love Wall Street).
Never mind that most of its CDOs were "super senior" and supposed to be relatively safe.
Here, something isn't just Triple A. It's "Super Senior Triple A".
It now expects losses on these tranches to be "immense".The super senior tranches did have some attractions for banks.
Five others were tied at 66, including Lee Trevino, who, at 63, is a Super Senior (older than 60).
The United States super senior asset backed-security C.D.O.'s that Merrill sold were once valued at $30.6 billion.
Similar(24)
Some banks simply let the super-senior debt accumulate on their balance sheets.
In particular, those banks had accumulated huge amounts of super-senior debt.
Confidence in the AAA ratings on CDOs explains the decision to hedge only 2-4% of many super-senior exposures.
For example, 79% of its super-senior CDO exposures at the end of 2007 seem to have been originated that year.
Most of this was highly rated, but so rapidly have subprime-mortgage defaults risen that even this "super-senior" paper is now being downgraded by rating agencies.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com