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10-03-2008, 06:24 PM
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#11 |
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Registered User
Join Date: Jun 2007
Location: Not here
Posts: 2,655
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The problem is mortgage backed securities that now have next to no value. Lending institutions want to fix their books with a "some day my prince will come" value for their MBS's. Well, some day he may indeed come, but not today. We cannot go from a relatively transparent system of accounting to one that is opaque. How are we supposed to make informed investment decisions without mark to market? I'm with BigV.
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