ACA’s disastrously timed initial public offering
One side effect of the SEC fraud case against Goldman Sachs is that it draws attention to one of the most flawed initial public offerings of recent years.
ACA Capital, which was the “portfolio selection agent” for the controversial Abacus deal and invested in the deal, as well as insuring the most senior tranches, went public in November 2006 just as the US mortgage market was about to crater. Read more
The SEC’s fight to prove a Goldman fraud
I’ve written a news commentary for Monday’s FT on the Goldman case:
In taking on Goldman Sachs, the most successful and prestigious investment bank on Wall Street, and accusing it of securities fraud, the Securities and Exchange Commission has its work cut out. Read more
| About this blog | Blog guide |
John Gapper is an associate editor and the chief business commentator of the FT.
He has worked for the FT since 1987, covering labour relations, banking and the media. He is co-author, with Nicholas Denton, of 'All That Glitters', an account of the collapse of Barings in 1995.
Andrew Hill is an associate editor and the management editor of the FT. He is a former City editor, financial editor, comment and analysis editor, New York bureau chief, foreign news editor and correspondent in Brussels and Milan.
Latest columns by John and Andrew