Securitization—once a fairly straightforward means of offering collateral for investment—has mushroomed into a massively complex area of financial practice. The central role occupied by such risk-distributing products as collateral debt obligations (CDOs), credit default swaps (CDSs), collateral loan obligations (CLOs), and credit derivatives has given rise to one of the most crucial inquiries of our era: Is the financial collapse that threatens the world financial system due merely to rogue traders Or is there something in the derivative idea itself that spells inevitable disaster Most important, can we isolate the truly productive aspects of securitization and learn to recognise pitfalls in advance? As always in such ideational minefields, it is the legal practitioners who are expected to provide guidance to distressed investors and asset dealers. Hence this vital new book. Written from a distinctly practical point of view by Jan Job de Vries Robbé with contributions from Paul Ali and Tim Coyne—all three leading authorities with extensive experience as counsel both in-house and in private practice, in addition to sterling academic credentials—the book sheds clear light on every aspect of today’s securitization techniques, including welcome guidance on the following: keeping track of exposure to the CDO market; and evaluating such emerging asset classes as commodity risk, microfinance, and project finance risk. In the course of the analysis the book proceeds from the relevant framework and guiding legal principles, through key risks and building blocks in securitization transactions, to the various product classes and sub-classes and their differences and common denominators. Non-credit risk and niche products (such as fund and insurance securitization) are also covered. The final chapters are devoted to the applicable rules as laid down in Basel II and International Financial Reporting Standards. Securitization Law and Practice introduces order, clarity, and renewed confidence into a troubled area of the law. Its combination of sound information, insightful knowledge, and practical wisdom will make it a highly valuable resource for lawyers and students in an indispensable field of international practice.
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Everyone knows of the reputation that white van men have, but how about red van men? Well because of the European wide shortage of red vans, down to the credit crunch, these could soon die out.
The credit crunch is the reason for the lack of the red vans. Because money is tight from the credit crunch, the overall amount of vans that are being sold is dropping, this has meant that the manufacturers have decreased the amount of coloured vans going into production. More classical colours like white are being produced instead, this means that companies that rely on coloured van might have to change to more traditional colours like white.
It seems like an odd situation, due to the credit crunch, the manufacturers are making less coloured vans, but the coloured vans are the ones people are after but they can’t buy them because they are not being made.
If some companies end up having to change the colour of their vans, it may be for the greater good because they may end up buying a safer colour van. This may sound a little odd, but there have been a series of studies that show that white vehicles are in the least amount of accidents. A number of studies have been undertaken into the colour of cars, one being a study that looked at cars in lighting storms and it found that a white car was less likely to be struck by lightning. Another study found that a white fire engine is far less likely to be involved in a collision than a red one.
We should start trying to claim cheaper car insurance for a white car because according to the RAC, white is the safest car colour.
If you are a company that is in need of specific colour vans, maybe you should try van leasing? There are a huge number of different vans available for lease all in different colours, from minibus leasing to tipper van leasing, there are vans for every purpose and every requirement.
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