A storage system is a relatively simple credit facility: in recent times, some CLO managers have successfully introduced CLOs with new expenses without relying on a storage facility. These transactions show that a storage device is not a “must” to launch a new CLO. However, the benefits of a well-structured storage device remain relevant for managers looking for more options to manage the start-up process and offer protection against harsh market conditions. A storage facility can give the manager more time to choose credits for the portfolio, spread some of the risk among other parts during the start-up phase, and allow for faster asset acquisitions based on the availability of capital. The cost of a storage facility reduces the overall profitability of the CLO operation, as it results in additional interest costs during the peak period. The storage loan should be repaid with the proceeds of the issuance of the CLO. In a detailed chronicle of the events, set out in a U.S. Senate subcommittee report titled “Wall Street and the Financial Crisis: Anatomy of a Financial Collapse,” it was reported that Goldman “acquired assets for multiple CDOs at the same time, and that the CDO Desk generally had a long net position in subprime assets in its CDO storage accounts.” In early 2007, according to the report, “Goldman executives began to voice concerns about mortgage subprime risks in CDO storage accounts.” An investment bank carries out asset storage in order to prepare for the placing on the market of a CDO. . . .