Matt Kelty

Subprime Meltdown: Untested Territory

Another false statement: no servicer in an ABS/MBS transaction has ever gone bankrupt? Huh? Someone here must be new to the block... what about all the flameouts in the late 90's (Conti, et. al) that flamed out? Why do the rating agencies rate servicers and require "hot backup" special servicers if a servicer is in doubt?

How does this story make the Seeking Alpha headline with such obviously false statements? I thought the dialogue here was a little more informed.