We expect the strong brand-name of ACA as well as our market-leading position in synthetic CDOs of structured products to result in a successful offering.
The synthetic long put created by the investor is a bearish position that may be profitable if shares in U.S. Bancorp pull back from the current level.
Since first disclosing the loss, Dimon has largely pinned the blame on a hedging strategy gone wrong, a synthetic credit portfolio initially intended to protect the company that became a successful position and blinded those who were in charge of managing it to the rising threat it posed.