John Carney has landed on his feet at Daily Beast, after being fired by Henry Blodget, and comes roaring out of the gate with a must read story on Dusseldorf-based IKB Deutsche Industriebank, the German bank that was on the other-side of the CDO trades made by Paulson & Co., and brokered by Goldman Sachs.
Bottom line: IKB was just as aggressive and playing near the edge as was Goldman. There were no babies in this pig pen. Carney's story is here.
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