In contrast to some other news sources, the Financial Times has been providing some of the best coverage of the SIV/Commercial Paper situation.
In today's FT, Gillian Tett and Saskia Scholtes (two reporters who have been doing excellent work on this subject), wrote a very good article summarizing the M-LEC concept.
If you have today's copy of the paper, there is a graphic on page 18 (in the US edition) that does a explains the situation very well.
Another article on that page by David Wighton and Deborah Brewster gives a good explanation of the pricing aspect of executing M-LEC transactions with the SIVs.
Tuesday, October 16, 2007
The FT Excels Again!
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