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Applying the Insurable Interest doctrine here would seem the most appropriate.  It would seem to simply void a large part of the CDO market.  It would seem that this doctrine would be a natural part of the legal defense of individuals or institutions claiming to have been deceived as to the nature of the transaction.

If sanity be culturally normative, then by the norms of this culture I claim insanity.
by ARGeezer (argeezer a in a circle yahoo dot com) on Thu Nov 20th, 2008 at 03:15:35 PM EST
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