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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Giordano Bruno who wrote (123925)5/19/2008 11:01:48 AM
From: Jim McMannisRead Replies (2) of 306849
 
``The banks that have taken advantage of this accounting approach are going to have a price to pay later,''

It's Like Shampooing'

Banks can't keep selling hybrid bonds because ratings firms place limits on how much of their capital can be tied up in such securities. Rosenberg said the next round of equity-strengthening probably will be in the form of common stock.

``It's like shampooing: lather, rinse, repeat -- write down, raise capital, repeat,'' Rosenberg said. ``How long can they keep doing it? Shareholders are in for a long ride.''
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