Felix Salmon responds to DeLong: "These are assets which can go to zero. We're talking anything...

|By:, SA News Editor
Felix Salmon responds to DeLong: "These are assets which can go to zero. We're talking anything which originally had an AAA rating - which includes mezz CDOs, CDO-squareds, CPDOs, you name it. So 'a huge number of defaults' is exactly the risk that the buyers will be taking."