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Biotech / Medical : Biotech Valuation
CRSP 53.85-4.5%Jan 9 9:30 AM EST
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To: Arthur Radley who wrote (26596)4/9/2008 9:52:19 AM
From: tuck  Read Replies (1) of 52153
 
OT

TD,

Citit has had to indemnify the buyers of the first 20% of losses to get that price. It is simply a transparent attempt to create a better mark to market price. The deal is not all that great, and indeed, your XLF short (and my SKF holdings) are doing well this morning.

Edit: And C has $30 billion more of that kind of debt.

Cheers, Tuck
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