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Mandated selling because of downgrades will provide "panic mode" data points (i.e. lots of sellers and few buyers), which will feed on themselves in a vicious circle. The unwinding can only be painful, precisely because of these trigger mechanisms, which force transactions to take place and 'shine light' on the whole sorry mess, whose sudden visibility in turn makes the crisis real and feeds it.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Wed Jul 4th, 2007 at 11:11:26 AM EST
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