- thinking very hard
- looking at the flow of information on the trading desk daily
- and reading prospectuses, trade docs, and even annual reports (10Ks)
- LEH has entirely Alt-A mortgage loans in its Level 3 Assets.
- GS has a LOT of unsold ABS CDOs in its Level 3 Assets.
- MS has a bit of everything with Subprime and Alt-A being larger than the rest.
- C has a LOT of ABS CDOs and unsold LBO loans.
Of the four, I think if I deduced correctly, GS is in the worst predicament of all. Despite the NEVER ENDING HYPE.
Wall St. is indeed first and foremost a marketing machine with few other qualifications.