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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: CalculatedRisk who wrote (82814)6/18/2007 11:26:05 AM
From: Paul Kern  Read Replies (2) of 110194
 
Probably had no bids ... <G> We don't know the tranches that were "seized", but I suspect they are worth less than expected.

Worthless then because there were no buyers? How do you value or mark to market a debt security when there are thousands of debtors and no one knows their true creditworthiness and the rating agencies gave the securities ratings not connected to reality?

I'm waiting to see if there is a follow up on the DJ wire.
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