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

To: saveslivesbyday who wrote (78637)	1/17/2008 7:39:22 AM
From: Real Man	Respond to of 94695

I'm not sure about "for a while", a couple of weeks until the Fed meeting? -g- MER bombed this morning. Scrap that rally?

To: saveslivesbyday who wrote (78637)	1/17/2008 7:56:29 AM
From: Real Man	Read Replies (1) \| Respond to of 94695

From MER, some derivatives melt. Ouch! "During the fourth quarter, credit valuation adjustments related to the firm's hedges with financial guarantors were negative $3.1 billion, including negative $2.6 billion related to U.S. super senior ABS CDOs. These amounts reflect the write down of the firm's current exposure to a non-investment grade counterparty from which the firm had purchased hedges covering a range of asset classes including U.S. super senior ABS CDOs."