The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Paul Kern who wrote (89272)	11/29/2007 1:06:47 PM
From: Riskmgmt	Read Replies (1) of 110194

So, now we know what some of this toxic crap is worth -- 27 cents on the dollar. Paul: Sounds like Citadel made a hell of a deal. Even in a bad market to pay 27% of the face value is some discount and it's on Mortgages not the property, so they only need 27% to pay as agreed to break even. The bonus is that most mortgages are not written at 100%, so assuming an 85% average they are paying more like 23 cents on the dollar. Like to find some deals like that myself. regards Ray

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