tag:blogger.com,1999:blog-4622411633995176328.post8329899571651684898..comments2023-09-29T04:22:59.719-07:00Comments on Average Buyer: More than a little ironyBuying Timehttp://www.blogger.com/profile/04651516505789196067noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-4622411633995176328.post-81026881576891085502008-07-29T14:49:00.000-07:002008-07-29T14:49:00.000-07:00A definite nightmare scenario for the banks. They...A definite nightmare scenario for the banks. They can maintain the fiction that their toxic waste isn't all that bad as long as no one is actually out there buying and selling the stuff. But having market prices forces write-downs. <BR/><BR/>I assume this was all residential mortgages? With all the bankruptcies that have or will happen (Mervyns....) commercial is about to go to bad to catastrophically bad.G Spot1https://www.blogger.com/profile/09884356085701505055noreply@blogger.comtag:blogger.com,1999:blog-4622411633995176328.post-16753268344073858582008-07-29T11:28:00.000-07:002008-07-29T11:28:00.000-07:00what we don't know is what this CDO was made up of...what we don't know is what this CDO was made up of. If they were 2nd liens in CA and FL made in '06, then they are worthless. You don't know if 22 cents is cheap unless you know what you're buying.Marginal Utilityhttps://www.blogger.com/profile/11380977079724718770noreply@blogger.comtag:blogger.com,1999:blog-4622411633995176328.post-54416854018802231312008-07-29T10:03:00.000-07:002008-07-29T10:03:00.000-07:00isn't that a 78% discount? Still going strong...Lo...<I>isn't that a 78% discount? Still going strong...</I><BR/><BR/>Lol. Mish astutely pointed out that while Merrill has raised $30 billion since December, their market cap is only $24 billion.<BR/><BR/>Hmmm...patient renterhttps://www.blogger.com/profile/17790407105234257876noreply@blogger.comtag:blogger.com,1999:blog-4622411633995176328.post-84713434299650889002008-07-29T09:55:00.000-07:002008-07-29T09:55:00.000-07:00Wait, isn't that a 78% discount? Still going stron...Wait, isn't that a 78% discount? Still going strong...husmanenhttps://www.blogger.com/profile/12133974934289103581noreply@blogger.comtag:blogger.com,1999:blog-4622411633995176328.post-36142282645992813952008-07-29T09:37:00.000-07:002008-07-29T09:37:00.000-07:00Just a little calculation...22 cents on the dollar...Just a little calculation...<BR/><BR/>22 cents on the dollar is an 88% discount.<BR/><BR/>Maybe they will run a coupon special for 90% off next month!Sold in '05- Bought in '09https://www.blogger.com/profile/15023130357035931238noreply@blogger.comtag:blogger.com,1999:blog-4622411633995176328.post-20007909566037313072008-07-29T09:22:00.000-07:002008-07-29T09:22:00.000-07:00I think this says a lot more about Merrill's finan...I think this says a lot more about Merrill's financial situation than the CDOs.Anonymousnoreply@blogger.com