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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (2616)	8/15/2007 7:33:34 AM
From: The Reaper	Read Replies (2) \| Respond to of 6370

<Money market funds are allowed to invest in the mortgage-related securities, but only the safest slices -- or traunches -- of them; such as those rated AAA or AA.> Well, well... we all know how good those AAA rated tranches were for Paribas now don't we? I guess that there is quite a bit higher risk than we thought that a money fund or two might be giving back a little less than $1 a share. This whole mortgage mess is going to be a lot bigger than even now the "talking heads" are pontificating. It's all based on faulty credit ratings of the mortgages. I wonder how many of the corporate AAA and AA ratings have been "bought". This is going to go down as one of the biggest scams ever.