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To: ggersh who wrote (72194)	12/10/2007 8:39:00 PM
From: ggersh	Respond to of 116555

Derivatives DictionaryTM (K-M) Last revised: August 03, 2001 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z # -------------------------------------------------------------------------------- - K - Kitchen Sink Bond or MBS A bond or CMO into which issuers have dumped "everything but the kitchen sink," including "garbage" such as miscellaneous MBSs, CMO tranches, and derivatives. Some people call the contents of the KSB the "toxic waste" of derivatives transactions. Issuers include agencies such as Fannie Mae or Freddie Mac and securities firms such as Bear Stearns and CS First Boston. One selling point has been that their components are so diverse that some will increase in value while others decrease, thus reducing overall risk. However, in fact, in the middle of 1994 enough of the components went south to seriously hurt investors in some kitchen sink bonds. Found this on ask.com .....The Derivatives Dictionary