Scientology Critical Information Directory

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Easy Money

Title: Easy Money
Date: Monday, 4 June 2007
Publisher: Forbes
Author: Nathan Vardi
Main source: members.forbes.com

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As the U.S. housing market sinks, billions and billions are still going into risky mortgages. Who's minding the bank? Bryan Zwan, entrepreneur and prominent donor to the Church of Scientology, is now dealing in collateralized debt obligations. CDOs have helped fuel the boom in U.S. housing and are backed by junk bonds, leveraged loans, asset-backed securities (like mortgages), credit default swaps–and who knows what else. Zwan's particular group, Forge ABS of Tampa, Florida, intends to invest half the $1.5 billion it ... [Read the rest at members.forbes.com]