Showing posts with label second lien. Show all posts
Showing posts with label second lien. Show all posts

February 11, 2007

Here's your subprime and second-lien death-list for anyone keeping score at home


Got your popcorn? When doing your research, note which companies are bag-holders in addition to issuers. Wells Fargo for instance sells their junk as fast as they can to Wall Street firms, who then sell it off to who-knows-where (hedge funds, China, etc).

It's the bag-holders that get killed on this grand game of duck-duck-goose. Goose!