Friday, January 4, 2008

Greed ain’t good – it’s dumb!

In Unforgiven Margin Call, Bear Funds Failed on Merrill CDOs

In this case of instant Karma, Merrill Lynch, forcing Bear to write down its CDOs actually got stung to the tune of $8bn themselves because they forced a market valuation of all similar assets. How funny is that. I guess they were not so clever after all.

Posted by lvmreader @ 07:02 PM (435 views)
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