Trust us

So S&P says the sub-prime write downs may soon be over. Bloomberg Break out the champagne because these guys can be trusted. What they fail to mention is that we're a long way from the Alt-A and Prime write downs that are going to take place. And I also think they are liars. But I guess when you rate 30% defaulting MBSs as AAA you can justify or express just about anything.

Subprime is hottttt.....

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