My last Merrill post until the next big writedown (or investigation / indictment):
The Merrill sale involved "U.S. super senior ABS CDO, the majority of which comprises older vintage collateral – 2005 and earlier."
2 0 0 5 !
How many "Vintages" might we have left? 2 0 0 6, 2 0 0 7?
I am curious as to how much more junk is throughout the financial system.
What Say Ye?
U.S. stocks fell and the Dow Jones Industrial Average lost more than 200 points for the second time in three days after the International Monetary Fund said there is no end in sight to the housing slump.
Running time 02:19
U.S. Stocks Tumble Led by Banks on IMF’s Housing Outlook:
Bloomberg, July 28 2008