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To: ild who wrote (253858)8/4/2003 1:41:12 PM
From: Knighty Tin  Read Replies (1) | Respond to of 436258
 
Basically, they swap it for bank mortgages, pay the difference in rates, and the bank guarantees the paper with a AAA mortgage backing it. And, of course, Greenscam guarantees the bank, so there is no risk. <G>



To: ild who wrote (253858)8/4/2003 7:01:17 PM
From: Pogeu Mahone  Respond to of 436258
 
i asked KT the exact same question in 1999
<<KT, how do they get AAA for this stuff?>>
Fleet Bank was selling their bad loans,
to a group that repackaged them and they came out the other end of the sausage as triple AAA`s..
are they in your money market fund?<NG>
did anybody say this is going to end badly-G-


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