banval

Which Banks Will Survive?

MOST PEOPLE WHO MAKE THE CALL THAT AIG'S CDO PORTFOLIO WILL NEED TO BE WRITTEN DOWN TO MERRILL LEVELS FORGET THAT AIG'S CDO PORTFOLIO IS MUCH BETTER QUALITY THAN WHAT THE MONOLINES TOOK. AIG PULLED OUT AND MONOLINES JUMPED IN DUE TO THE DETERIORATION OF THE MARKET. MERRILL KEPT WHAT IT COULD NOT SELL TO THE MONOLINES, THE WORST OF THE WORST.