Where can I see a copy of Greg Lippmann's famous 2007 short subprime presentation sent from Deutsche Bank to hedge funds?


  • Famous Deutsche Bank presentation sent to hedge funds arguing for the bet against subprime, mentioned in The Big Short:
  • The flipbook the FCIC interview mentions several times:
FCIC: It strikes me that the title of the flipbook is shorting home equity mezzanine tranches and not shorting subprime mezzanine tranches. Was there a focus on home equity mortgages or what was the reason for that?GL: That’s just a semantical issue. Home equity is a catch-all for subprime and home equity l[ie]ns, you know, which you may be more familiar with, where you have like a home equity line of credit if want to purchase a house, or what have you, that’s not what we, that’s a tiny, tiny market and we didn’t really buy protection on that. Home equity was a term invented by somebody to describe subprime mortgages, like in the early 90s. I have no idea who invented that term that’s just what people called subprime.