| Fannie in Her Own Words
It just means that there are a lot of other securities below it, which will absorb initial losses. The danger is that this cushion is not much protection if the underlying collateral turns to dust... The latest Citi blow contained three scary nuggets. The first is nobody really knows where the CDO debacle will lead. The complexity of valuing these things - not just how the cash from the underlying collateral gets divvied up but how the the default rates of the different securities correlate - was underscored by the $3bn range Citi attached to its potential hit. The second is that the scale of the mess could be even greater since there are many synthetic CDOs out there referencing the cash CDOs. Lastly, Citi added yesterday for good measure that all it had detailed was its direct exposure. Along with others, it may have offloaded credit risk to bond insurers.
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2.51 at the Citgo near the Christmas Tree Shop in Sagamore.... $2.65 at the Citgo on 28 South in Bourne.... $2.64 at the Citgo on 28A, Bourne/Falmouth line, with $2.89 diesel for all you mothertruckers. A friend of mine from my Worcester State College tells me that you can make the short trip over the bridge to Littleton for their $2.19 headline grabber. NOTICE: Cheap Oil too! A suggestion below from Cape & Islands Self Reliance is a great idea - please use this blog to also send in the LOWEST HOME HEATING OIL prices as well, or see the C&ISR site. 12 of the 15 highest gas prices are on Cape Cod according to Mass Gass Prices Hess in Seekonk... $2.12 $2.13, Prime Energy in Brockton$2.15, Cumby's in Bridgewater Of the 15 highest priced stations this site listed...
Banks are helping sharia make a back-door entrance
Still, I'm curious, how can banking and religion have a relationship with one another? And if they do in someone's head, how does this affect someone else's life?
Take care,
Brian Posted 25/01/08 at 3:15 AM EST | Alert an Editor | Link to Comment .
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