In the last two years of the boom, CDOs created by one bank commonly purchased slices of other CDOs created by the same bank. Market leader Merrill Lynch outpaced its competitors. Nearly half of all of its CDOs bought significant portions of other Merrill CDOs. (About Our Data)
The black circles below represent the number of deals in which banks' CDOs held a significant portion of their own prior CDOs (more than one-third of the overall CDO slices in the deal) while the colored circles represent the total number of deals completed by that bank in that half year.
Thank you for your interest in republishing this story. You are are free republish the article and graphics so long as you do the following:
You have to credit us — ideally in the byline. We prefer “Author Name, ProPublica.” If your CMS does not allow you to do this, please include a line at the top of the story that reads: “This story was originally published by ProPublica.”
If you’re republishing online, you must link to our website, include all of the links from our story, and use our PixelPing tag.
You can’t edit our material, except to reflect relative changes in time, location and editorial style. (For example, “yesterday” can be changed to “last week,” and “Portland, Ore.” to “Portland” or “here.”)
You cannot republish our photographs or illustrations without specific permission (contact us at [email protected] for more information).
It’s okay to put our stories on pages with ads, but not ads specifically sold against our stories. You can’t state or imply that donations to your organization support ProPublica’s work.
You can’t sell our material separately or syndicate it.
You can’t republish our material wholesale, or automatically; you need to select stories to be republished individually. (To inquire about syndication or licensing opportunities, contact our Director of Business Development, Celeste LeCompte.)
You can’t use our work to populate a web site designed to improve rankings on search engines, or solely to gain revenue from network-based advertisements.
We do not generally permit translation of our stories into another language.
Any web site our stories appear on must include a prominent and effective way to contact you.
If you share republished stories on social media, we’d appreciate being tagged in your posts. We have official accounts for ProPublica and ProPublica Illinois on both Twitter (@ProPublica and @ProPublicaIL) and Facebook.
Copy and paste the following into your page to republish: