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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (15642)6/21/2004 3:21:05 PM
From: Ramsey Su  Read Replies (2) of 110194
 
ild,

I had lunch with some subprime mortgage brokers recently.

One of my questions to them was who were taking the subprime loans off their hands. The two guys said everyone, they were under the impression it was all the big banks.

It will be interesting to find out, a few months from now, that all the banks are deep in subprimes, the GSEs are deep in the conventional loans, the WM and GWC are deep in adjustables and bottomline: everyone are deep in mortgages.
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