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Goldman Sachs's 1st Response to SEC Wells Notice

Goldman Sachs's 1st Response to SEC Wells Notice

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Publicado porDealBook
Goldman Sachs's first response to the Securities and Exchange Commission's Wells notice, sent Sept. 10, 2009.
Goldman Sachs's first response to the Securities and Exchange Commission's Wells notice, sent Sept. 10, 2009.

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Published by: DealBook on Apr 19, 2010
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05/24/2012

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ACA was the asset management subsidiary of ACA Capital Holdings, Inc., and

provided asset management services and credit protection products to investors. As of May 31,

2007, ACA was managing “26 outstanding CDOs with underlying portfolios consisting of $17.5

billion of assets.” (GS MBS-E-003525837.) ACA acted as the Portfolio Selection Agent for the

2007-AC1 transaction, invested $42 million in the 2007-AC1 notes, and sold protection to

Goldman Sachs on the $909 million notional amount super senior tranche of the transaction.

ACA suffered serious financial troubles at the end of 2007 and beginning of 2008.

In November of 2007, ACA posted a $1.04 billion third-quarter loss. After a restructuring

supervised by the Maryland Insurance Administration (Maryland‟s insurance commissioner),

ACA Capital Holdings, Inc. is now operating under the name Manifold Capital. ACA is

currently operating as a run-off financial guaranty insurance company.

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