There's a man with a chart over there
Telling me I got to beware
I think it's time we stop, children, what's that sound
Everybody look what's going down
What's going down is asset-backeds, from AAA through junk. Scary how fast they are dropping.
This is probably the reason. And it doesn't bode well for speculators -- individual housing speculators or hedge fund mortgage speculators.
Not looking too good for CalPERS or Texas Teachers, either.
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