"Right Now Things Are Starting To Come Unglued" [View article]
Harry, you a being a bit cavalier about baking here. It isn't whether its is baked in, but how much of it did they bake in that matters most. What Barry is implying, and I agree with him, is the cake might be in the oven with Bear-Stearn's baked in, but there is lot more sub-prime ingredient on the board the market is ignoring and sooner or later they are going to have to bake that in too. That's why he thinks they need to look up the definition of contains. I think they really mean "covered" not "contained".
"Right Now Things Are Starting To Come Unglued" [View article]