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A Fool and His Money….

dustbury.com found this 6/17/2009 on outsidethebeltway.com

I love this story (Via James Hamilton), Its behind the WSJ subscription but here are the basics of the story, And so the WSJ recounts the tale of a security based on $29 million (par) worth of subprime loans in California, half of which were already delinquent or in default. Betting that the ...