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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Tommaso who wrote (84172)7/26/2007 11:37:50 AM
From: GST  Read Replies (2) of 110194
 
From what little I have read, I think the underwriters of these junk bonds have responsibilities that vary with each contract. It seems some are on the hook and some are not -- on the hook to pony up their own money if I understand it. That can't happen very often without capsizing even the largest boat. More likely -- it will end in a decade of litigation if things do not turn around.

Like you -- I would like to hear from those closer to this issue.
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