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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (77938)	11/29/2007 7:08:31 PM
From: Real Man	Read Replies (1) \| Respond to of 94695

She sang today for E-trade mortgage portfolio. Bought it for $3 billion, sold it for 800 million. Now, this is a real trade for the untradable, so banks may have to reprice some of their mortgages to reflect reality that bites, not models -g- So, she is now singing for banks and brokers. A 70% markdown on level 3 assets should put many banks and brokerages into negative total assets category. Are they gonna do it? Probably not. -g- Socialism for Wall Street minyanville.com