35-year-old Jia Chen of Citibank probably has no idea where that title quote above came from. That's because she was roughly 4 years old when Poltergeist II hit theaters back in 1986...
...that said, Citibank, as we noted a few weeks back, has every confidence that Jia is the perfect person to put in charge of once again making the bank into a powerhouse player in the Synthetic CDO market...perhaps because she was barely out of college when the same product nearly tanked the global financial system less than 10 years ago.
Be that as it may, Jia seems to be succeeding admirably in her mission to once again massively overlever the global financial system as Citibank reports that Synthetic CDO new issues are expected to exceed $100 billion this year, up 5x in just two years. Per Bloomberg:
The comeback in complex credit derivatives blamed for exacerbating the global financial crisis is picking up pace.
That's according to new research this week from Citigroup Inc., one of the biggest arrangers of so-called synthetic collateralized debt obligations. Sales of the products may jump to as much as $100 billion this year from about $20 billion in 2015, Citigroup analysts wrote in an Oct. 31 report.