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DASH controversy: CDO overpays equity holders $3 million

According to documents obtained by IFR Markets, the DASH II Funding Corp. ABS CDO, managed by Asset Allocation Management (AAM), overpaid equity investors by $3.084 million on June 15, 2002. Downgrades in two FEP Receivables 12-b1 fee deals were missed, which would have triggered an overcollateralization test subsequently cutting...

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