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It’s finally dawning on market players and investors
that Wall Street’s interest and those of
investors have never been aligned...Investors
are beginning to say to themselves: ‘Hey, there
is someone who will benefit if this doesn’t go well.’

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While the preferred outcome here would be humiliating defeat for both sides, the answer to two questions would be interesting:
  1. How many people at M&T (NYSE:MTB) actually read the “390-page offering document with detailed descriptions of the kinds of bonds that would go into” the dodgy CDO; and
  2. How many of those actually understood that which they read?
by Vikas Bajaj
The New York Times Jan. 20 2008
Source: Great Days in Customers' Yachts: M&T vs. Deutsche Bank Edition