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Are Re-Remics Financial Folly? PDF Print E-mail
Friday, 02 October 2009 07:14
Eric Falkenstein submits:

The WSJ reports:

The popular deals are known as "re-remic," which stands for resecuritization of real-estate mortgage investment conduits. The way it works is that insurers and banks that hold battered securities on their books have Wall Street firms separate the good from the bad. The good mortgages are bundled together and create a security designed to get a higher rating. The weaker securities get low ratings.


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