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It is not only the CDO market but GMAC which was thought to be as good as gold is now a junk rated credit and the market capitalization of GMAC paper is pretty huge and then there is the CDS(credit default swaps) which I have not looked at lately but have to believe liquidity is not great there, I am sorry to be cynical but it has all been a deck of cards and the investment bankers only have there bonuses in mind every year and try to get as many securities to market as they possibly can why do you think they have made the exhorbitant bonuses that they have made. The whole focus of the markets has always been the next deal, the next pay check, at some point this was going to happen. The only question is how long and how bad. Do the bankers really care, of course they care, if the market is suddenly illiquid no deals no bonuses but they have plenty of moneyin the bank. If your net worth is $50 million, how much more money do you really need? Of course in their minds,more!!!!
The person this really hurts is the mom and pop investor as usual....... Personally, I hope there is a huge correction, this scam game has been going on for far too long!!!!!!!!!!!!!!!!!!!!!!!!!!!
