"Moody's Investors Service downgraded the ratings of 46 tranches and placed under review for possible downgrade the ratings of 11 tranches from eight Alt-A deals issued by Bear Stearns Cos. (BSC) in 2007. ... The collateral backing these tranches consists of primarily first lien, fixed and adjustable-rate, Alt-A mortgage loans. ..." -- Not subprime... ruh-roh...

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