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


To: Real Man who wrote (78640)1/17/2008 8:54:35 AM
From: Paul Kern  Respond to of 94695
 
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."


So the fuc##rs don't have the money to pay off. I think the term is counterparty risk. <G>