2007-12-17 — wallstreetexaminer.com
'There is a major Canadian bank named CIBC, which has just disclosed it may have to take losses of $3.5 billion as a result of hedges it entered into on its subprime debt. The problem as you may realize is the counter-party on the other side of the hedge—that they won’t be able to pay up. ' -- So much for Goldman et al. being "hedged"
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