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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: AK2004 who wrote (3399)	10/5/2000 6:06:31 PM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 4155

For both our sakes, Albert, please look up what an ABS is and how it works. Of course CNC will continue to perform the servicing functions on the loans. Would you buy an ABS if you had to solicit the funds from the lendee yourself? CNC was already performing that and related functions on its own behalf, and that will not change. But the fee for that is a relatively small amount of gain compared to the interest payments the buyers of the ABSes will (likely) be collecting. What's really going on here on the board is that TA is trying to make something of the fact that "rated AAA" and "Conseco" appear together in a sentence, surrounded by enough obscure terms that an innocent lurker might think that Fitch is actually rating Conseco, the company itself, AAA. This is highly disingenuous but par for the course for Looney Tunica. CNC is selling future revenue potential in exchange for liquidity needed to service its own debt. Period, end of story.