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| User Info | Koolaid iditots; entered at 2007-12-02 01:26:29 | |||
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Koolaid Posts: 3881 Registered: 2007-07-23 Atlanta 
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In the end it all depends on the individual mortgages that make up the structured security. I'd rather have a subordinate tranch from a pool that is composed of loans made in non-bubbly locations, versus a normal portfolio of loans made in inland-empire California. We have a good general idea of the geography of WaMu's exposure. They are toast. As are many others. I don't care if they didn't dabble in ABS/CDO nonsense or not. They have been lying all year about their exposure. Soon enough the lies will be brought to light. 2007-12-02 01:26:29
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