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but you are wildly optimistic if you think the losses are going to be only 5-10%. where do you get that "the default rate on mortgages is not high enough (or even projected to be high enough) to seriously impact the value of the mortgage-backed securities"???

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Sun Dec 16th, 2007 at 06:42:21 PM EST
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