one bank is already set to benefit from the ABS program no matter what its actual outcome and impact on the European economy: the same bank that spawned none other than ECB's head... Mario Draghi.
According to Bloomberg, Goldman Sachs Group says it’s adding staff to its European asset-backed securities business as the bank prepares for a resurgence in the $305 billion market that shrank more than 40 percent over the past four years.
Why? Because the ECB is there as a backstop and will buy the worst of the worst as it rushes to become Europe's bad bank, pardon bad hedge fund.
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