At the same time Goldman executives were canceling vacations to deal with the burgeoning subprime crisis, O'Neal was often on the golf course, playing round after round by himself. ... In less than a year, Osman Semerci and his team had taken Kronthal's $5 to $6 billion worth of exposure and turned it into a $55 billion exposure. Almost all of it was triple-A tranches. It is almost unimaginable that he could have done that with no one seeming to notice. ...
So we look at views of smart people like Jeff Kronthal (of Merrill Lynch fame) who are bullish on 30-Year Treasuries (see clip B1 below). Those who concur and who like to spend received a gift of a Treasury sale this week. ...
Why did Tom Saylak, Merrill Lynch's ex-global head of commercial real estate, leave the firm? Some assume it was related to the departure of Jeff Kronthal, who hired Saylak and was pushed out this.
