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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (114413)	7/26/2001 3:01:58 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

there was a very large outfit here locally that repackaged (securitized) auto loans and sold them to the public. They offered rates of return about 2.5% - 3% above what a CD would pay. My Dad invested on the assurance that these were "insured" against default. Shortly after I convinced him not to roll-over his funds in one of these "accounts" the state moved in and prevented them from selling any more securities ... can you guess how much the remaining investors have seen of their $$s? <ng>