After the crisis, the bank struggled to value its holdings of CDO-squareds and faced large write-downs.

During the seminar, analysts debated how several CDO squareds might affect systemic risk in complex portfolios.

During the financial crisis, many investors discovered that a CDO-squared could be far riskier than it appeared because it was essentially composed of other debt obligations.

After the meeting, the portfolio manager decided to avoid CDO squared because the ratings were unclear.