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"... how in the world are the investment bankers finding buyers for these issues?"
Sep 24 20:15 pm
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All Comments by John McLeod »S&P Downgrades Four-Month-Old Repackaged Mortgage-Backed Securities [View article]
That one's easy, they found a buyer who prints his own money. SIFMA blessed Re-Remics into the TBA market in January, and the very next day the Fed started its 8-month-long buying spree of residential RE debt, presently sitting on a Freddie Mac sized $693.6 billion pile of mortgage-backed securities.
Who did you *think* was buying this stuff? It shoor weren't nobody named Bill or Mohamed!