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2008-06-15 Home Front Economy

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Posted by badanov 2008-06-15 05:48|| || Front Page|| [2 views ] Top

#1 Wouldn't surprise me. They make a lot of money in fixed income products. And a lot of the money in fixed income was from asset-backed securities. Mortgages, car loans, credit cards - all of the things that are defaulting at high rates because of lax underwriting, resulting in major reductions in the value of bonds created out of these assets.

Posted by Zhang Fei">Zhang Fei 2008-06-15 13:53|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2008-06-15 13:53|| Front Page Top

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