In the Vault: Finding a Single Source of AI Truth With Marty Chavez From Sixth Street
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The Complexity of Dealing with Lehman's Collapse
The collapse of Lehman Brothers presented a complex challenge due to its intricate structure with 47 distinct entities and various relationships involving subsidiaries, guarantees, collateralized and non-collateralized assets. Despite the imperfections, a software system known as secDB allowed for managing all the complexities effectively and promptly. This system enabled the quick preparation of closeout claims against each entity within an hour of Lehman filing for bankruptcy, a process that took other major Wall Street institutions months to complete. The power of secDB lay in its ability to consolidate all information centrally, providing a unique advantage during the Lehman collapse.
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