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May be one of the many oversights that are going to come to light as this monster gets dissected over the next few days or weeks. I did not see any mention either directly or indirectly. Maybe they will make some changes in the final product.
Vietnam Veteran, CW4 USA, Retired 1979
I was looking at a draft of the bill. I did not see any language that was directly mentioned Pensions, Mutual Funds, etc.
I know that many Bond Mutual Funds, Balanced Mutual Funds, Pensions, etc... must hold those MBS.
Will mutual funds be able to sell those bad assets that they were duped into buying (by the rating agencies)?
My question is: If these securities have been getting creamed because of mark-to-market requirements, will the ability to dump bad loans on the feds result in a new "marking" to near par? I'd think that if you hold a security you could dump on the government if it went toxic, the discount to par on those securities in the open market would be fairly small...
__________________ "Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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