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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: John McCarthy who wrote (36335)	3/20/2007 1:39:14 PM
From: Metacomet	Read Replies (2) of 78419

....amazing.... "-- ignoring the risks associated with subprime “debt instruments.” Also, through the magic of derivatives, many of these Mortgage Backed Securities have been leveraged to the extreme; sometimes at a ratio of 35 to 1. In other words, a home loan of $300,000 -- that may have been secured by a young man with bad credit who makes $12.50 per hour picking up mill-ends and bits of insulation on a construction job site -- has been leveraged into a $10,500,000 securities investment."

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