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Five Stocks to Own Now that the Dow Has Bottomed

MER sold securitized tranches at an average of 22 cents on the dollar, not mortgages. Depending on seniority of the tranches, some are worth full value, others may be worthless. This article contains a decent description of the securitization process. MER obviously held a big slug of junior tranches.

www.moodys.com.br/bras...