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| User Info | Koolaid iditots; entered at 2007-12-02 00:56:43 | |||
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Rmonical Posts: 2773 Registered: 2007-07-04 Glendale AZ 
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Quote:then how in the ****ing **** is that structured mess worth only 27 cents?I do not want to defend WAMU's portfolio. I do want to point out that there is a big difference between an ABS built up from the sludge tranches of prime MBS and whole loans that are held for investment. Remember that these securities got bogus AAA ratings and the originators knew that the ratings were bogus when the sold the crap. 2007-12-02 00:56:43
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