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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (77938)11/29/2007 7:08:31 PM
From: Real Man  Read Replies (1) of 94695
 
She sang today for E-trade mortgage portfolio. Bought it for
$3 billion, sold it for 800 million. Now, this is a real
trade for the untradable, so banks may have to reprice some
of their mortgages to reflect reality that bites,
not models -g- So, she is now singing for banks and brokers.
A 70% markdown on level 3 assets should put many banks and
brokerages into negative total assets category. Are they
gonna do it? Probably not. -g-

Socialism for Wall Street

minyanville.com
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