SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?


To: ild who wrote (243221)5/30/2003 4:12:10 PM
From: Knighty Tin  Read Replies (1) | Respond to of 436258
 
ild, asset-backed has always made me laugh. Every railroad in America had huge assets backing their bonds and bondholders got zilch in the bankruptcies. 1,000,000 miles of rail ties may have cost a lot, but they aren't worth much when railroads disappear. Ditto for most of these assets. Passenger jets were great asset backers. And how much can you get now for optic fiber backed bonds? Pile of crap sells for a pile of crap.