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  • AIG's Speculative CDOs in Perspective  [View article]
    The fact that the buy of the insurnce did not actually own the specific bonds is not particularly material to the need for the insurance. The buyer may have the basket of similar assets of like quality and use the different basket as the substitute.

    Suppose you have hurricane insurance on your home. A storm is forecast. Can I buy from you one half the coverage of your losses, leaving you net 50% insured, when I am not able to instantly buy coverage fro my home? If we agree on a price, it would be possible. No different in the CDS structure.
    Dec 12 09:58 am |Rating: 0 0 |Link to Comment
  • Hedge Fund Sues Bank of America Over Countrywide Mortgage Modifications [View article]
    My guess is that Greenwidh would be well satisfied if the mortgage originators repurchased the fraudulent mortgages rather than recast them.
    Dec 03 12:00 pm |Rating: 0 0 |Link to Comment
  • Buffett's Offer: Great for Him, Terrible for Bond Insurers [View article]
    Bond Insurers "screwed over" themselves.
    This deal will have a whole lot of Regulator appeal. Almost irresistable.
    Regulators and their bosses get funded through the Muni Mkt.
    This will allow them to keep on doing business as usual. Restores the Muni mkt to what it was.
    How can a Regulator resist?
    Feb 13 10:07 am |Rating: 0 0 |Link to Comment
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