Fool.com: Inside a Toxic MBS Pool
I contend that Paulson & Pals will be forced to pay NOT fire-sale prices for mortgage-backed securities like the disastrous one shown above, but rather, they'll be paying premium prices in order to recapitalize the banks (both domestic and foreign).
I will be shocked and awed if the American taxpayer, over time, does not lose hundreds of billions of dollars in this venture.
(Yeah, I'm an admitted cynic.)
Labels: Mortgages