Generally considered a setting to indulge brazen debauchery, Las Vegas last week was the scene for an industry conference that, instead, set down to work.

"This is where business is getting done," Micah Green, Co-CEO of the Securities Industry and Financial Markets Association told delegates during opening remarks for the ASF 2007. Indeed, ABS professionals stormed The Venetian and the city with one-on-one meetings between issuers, arrangers and investors. The most popular general and breakout sessions showcased hedge funds, CDOs and SIVs. Instead of blending into the background, these market players are bringing refinements and sophistication to the market. While the conference clearly demonstrated that those segments of the ABS market are developing faster than they are aging, it would be a mistake to take one's eye off of developments in established ABS sectors. Selections from this year's ASF 2007 conference notebook include:

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