2008-06-10 — ml-implode.com
"In a nutshell, reality has returned, the Kool-aid has worn off and it is all crumbling once again with the most risky paper types, like Pay Option ARMs, leading the way. I have often said, ‘the Pay Option ARM implosion will make the Subprime Imposion look like a bad earnings report’. Soon, we will find out. This could be the mother of all bailouts."
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