Dan Wilchins at Reuters has a good profile on ACA, the collapsed firm that lost a boatload on the controversial abacus deal.
The nut of it is that the firm was “easy,” so to speak:
But many traders said it was an open secret that ACA would consider deals that few others would take.
“They’d say ‘yes’ to pretty much everyone who asked them to dance,” said one Wall Street professional who did business with ACA.
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