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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (253858)8/4/2003 1:41:12 PM
From: Knighty Tin  Read Replies (1) of 436258
 
Basically, they swap it for bank mortgages, pay the difference in rates, and the bank guarantees the paper with a AAA mortgage backing it. And, of course, Greenscam guarantees the bank, so there is no risk. <G>
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