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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: NOW who wrote (132186)11/1/2001 6:50:53 AM
From: sun-tzu  Read Replies (1) of 436258
 
great link. interesting point here is that the securitization process of the CC's, like Japan, does not have have the necessary funds placed in trust in order to guarantee the noteholders. i still can't believe that this is allowed in the united states, and is considered standard operating procedure!

unbelievable!
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