Reactions to story from Calculated Risk
A Sorry Tale of A Second Lien Security
http://calculatedrisk.blogspot.com/ 2008/ 05/ sorry-tale-of-second-lien-security.ht...
Floyd Norris thinks this Merrill Lynch subprime second lien security issued a year ago this month is "a candidate for the title of worst ever." I suspect there are measurably worse deals out there whatever criteria you happen to be using, but Norris's observation that this one closed right at the time when a number of ugly facts--like the bankruptcy of the major originator and Merrill's involvement in it--were actually all over the newspapers (not to mention the blogs) is quite relevant. If you were reading the daily paper, not to mention your Bloomberg terminal, you knew about the problem.
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The TAF, famine, oil and the worst security ever
http://blog.risk.net/2008/05/the_taf_famine_oil_and_the_wor_...Four interesting links today- The Permanent TAF? Mohammed Yunus on the food crisis A candidate for the worst security ever issued And the ineffective oil production increase (back at $127 and still climbing!)
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