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To: rich evans who wrote (241551)3/11/2008 9:53:42 PM
From: carranza2  Read Replies (1) | Respond to of 794129
 
The problem is that the default risk is 'covered' by credit default swaps which are held by banks and other financial institutions. The risk attendant in these swaps is in my estimation what the crisis is mostly about.



To: rich evans who wrote (241551)3/11/2008 11:37:11 PM
From: LindyBill  Respond to of 794129
 
Market price is not necessarily the correct price so wait and see

From what I read they are being forced to use "market price." I guess if they don't every junk yard dog liability lawyer will start a class action suit against them.


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