Remove Auditing Remove Credit Risk Remove Leverage Remove Valuation
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Transcript: David Snyderman, Magnetar Capital

Barry Ritholtz

It’s like you said, I started at Pricewaterhouse and I went through a one year rotation there, so it started with audit. What happened over the last year and a half or so is rates went up and valuations went down. Either you have the asset and the credit risk, I would imagine. 00:22:43 [Speaker Changed] E exactly.

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Transcript: Sean Dobson, Amherst Holdings

Barry Ritholtz

And up until that moment in time, we didn’t spend a lot of time on credit risk in mortgages. We didn’t really have to model credit risk because that was, that risk was taken by the agencies. But in these private labels, you had the, the market was taking the credit risk.