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User Info	Florida Gov't Won't Accept Loss!!!; entered at 2007-12-01 13:20:26
Ajas Posts: 1650 Registered: 2007-08-28 Seattle, Zootown	So this is what deflation looks like..... And this is the beginning of a long darkness. I posted this article once before when sushi mentioned. OH MY GOD. http://www.bloomberg.com/news/marketsmag.... By David Evans Bloomberg Markets July 2007 Bear Stearns Cos., the fifth-largest U.S. securities firm, is hawking the riskiest portions of collateralized debt obligations to public pension funds. At a sales presentation of the bank's CDOs to 50 public pension fund managers in a Las Vegas hotel ballroom, Jean Fleischhacker, Bear Stearns senior managing director, tells fund managers they can get a 20 percent annual return from the bottom level of a CDO. ``It has a very high cash yield to it,'' Fleischhacker says at the March convention. ``I think a lot of people are confused about what this product is and how it works.'' 2007-12-01 13:20:26