“Is the financial system stable enough yet to fix itself?” In a Fortune article exploring this question, R&R’s Sylvain Raynes sees the prospect of a CIT Group bankruptcy as a new beginning. “There is still value in CIT that can be picked out if the company files for bankruptcy,” says Raynes. “In that scenario, it […]
R&R principal Sylvain Raynes calls for the government to take the lead in weaning the financial markets off their reliance on rating agencies. Reuters reports, “The Obama administration has said it wants markets to reduce their reliance on ratings after Moody’s Investors Service, Standard & Poor’s and Fitch Ratings created a false confidence in risky […]
Public interest journalism blog ProPublica interviewed R&R’s Sylvain Raynes regarding reports that AIG has sold off dozens of subsidiaries in order to repay the $85 billion it owes American taxpayers. “There’s nothing wrong with private transactions between consenting adults,” Raynes said, “But when the government is involved, everything changes.” Raynes noted that the lack of […]
Bloomberg quotes R&R’s Sylvain Raynes on Morgan Stanley’s plans to repackage a downgraded collateralized debt obligation into new securities with AA ratings, the first transaction of its kind: “A lot of banks and insurers ‘cannot buy anything but AAA,’ said Sylvain Raynes, a principal at R&R Consulting in New York and co-author of ‘Elements of Structured […]