2009-10-01 — nakedcapitalism.com
" So the monoline got themselves into a world of hurt thanks to writing guarantees on CDOs based on dodgy residential mortgages. " And the next iteration is likely to be CDOs with heavy exposure to commercial mortgage backed securities (by contrast, ones composed of whole loans would not be as troubling, since a CDO made of whole loans is functionally equivalent to a commercial real estate mortgage backed security, or a CMBS. It’s a first, not a second, generation securitization)."
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catherine at 00:52 2009-10-02 said:
by contrast, ones composed of whole loans would not be as troubling, since a CDO made of whole loans is functionally equivalent to a commercial real estate mortgage backed security, or a CMBS. It’s a first, not a second, generation securitization OH REALLY???? :P WEREN'T WE TOLD THAT WITH PRIMA 'A' MORTGAGES, THEY WERE SAFE AND ONLY THE SUBPRIMES WERE THE PROBLEM :roll: HOW MAN TIMES CAN THEY PULL THESE LIES OTTA THE BAG, OH YEAH TRILLIONS.............. :cry: Permalinkadd a comment | go to forum thread
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