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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Skeeter Bug who wrote (101582)2/23/2009 9:46:21 AM
From: bart132 Recommendations  Read Replies (1) of 110194
 
Part of it is that we're dealing with crooks, just like the ones who did naked shorting even though its illegal.

Another part is the extremely poor record keeping - someone thought they had or have a counter party, but in reality one isn't there (LEH being gone is one rough example).
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