2008-05-28 — ml-implode.com
Standard & Poor’s cut or may lower ratings on almost $34 billion of securities backed by Alt-A mortgages, the firm’s largest downgrade for the type of debt...
Many said a year ago when New Century collapsed that they were the ‘canary in the coal mine’. I have always said ‘the entire subprime sector is the canary in the coal mine’.
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