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To: Giordano Bruno who wrote (390037)	7/8/2009 10:59:04 AM
From: MythMan	Read Replies (2) \| Respond to of 436258

UFB

To: Giordano Bruno who wrote (390037)	7/8/2009 10:59:47 AM
From: Secret_Agent_Man	Read Replies (1) \| Respond to of 436258

‘Make Magic’ The strategy is increasingly being used for commercial mortgage debt. Standard & Poor’s said on June 26 that it may lower the rankings on $235.2 billion of bonds backed by loans on properties such as office buildings and shopping malls. Banks have issued about $2 billion of the debt in the last three weeks, according to Barclays Capital. That compares with $5.8 billion of similar offerings in all of 2008, Credit Suisse Group data show. “Somebody does something and it seems to make magic, and the other guy says ‘Hey, let’s do that, too,’” Raynes said. New York-based Goldman Sachs plans to sell $216.9 million of repackaged commercial mortgage debt, according to people familiar with the sale who declined to be identified because terms aren’t public. The re-REMIC is being carved out of four bonds sold in 2006, said the people. Michael DuVally, a Goldman Sachs spokesman, said he couldn’t comment.