Merrill CDO Deal: How Can It Book a 'Sale'? [View article]
I guess Merrilll is betting on Lone Star's credibility. What are the chances that Lonestar would default? If it is less than the probability of CDO's losing its value below the already discounted 22 cents to a dollar, this deal seems fair.
Merrill CDO Deal: How Can It Book a 'Sale'? [View article]