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Discussion
Morgan Stanley and the Credit Default Swaps, 2008
Howard (Howie) Hub
Discussion
Morgan Stanley and the Credit Default Swaps, 2008
Howard (Howie) Hubler III, was a bond trader at Morgan Stanley. He is best known for his role in the roughly $9 billion trading loss during the 2007–08 financial crisis. He was short-selling risky subprime mortgages, and was funding his trades by selling credit default swaps on AAA-rated collateralized debt obligations that were considered less risky, but that turned out to be much riskier, resulting in a massive net loss on his trades.
Could these trading losses be prevented and how? Did Morgan Stanley turn a blind eye to the risk hoping for even higher profits?
Instruction
Please Write a page essay on this topic with one reference.
APA Referencing
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