Profiting From The Meltdown
Robert Lenzner, 08.08.07, 6:00 AM ET
A consortium of the nation's leading investment banks have quietly created an index that is not only protecting them against the recent market meltdown but also promising to make them bundles of money in the process.
The index, known as LCDX, was created just weeks before the meltdown began by shrewd financial operatives like JPMorgan Chase (nyse: JPM - news - people ) and Goldman Sachs (nyse: GS - news - people ), which suspected trouble was brewing in the leveraged loan market and needed a way to protect themselves and their hedge fund clients.
This was just-in-time financial engineering. READ ON........