In the NY Fed disclosure of the TARP payments, they show various certificates that were tendered for cash. In Maiden Lane I, it shows the CDS’s for 11 certificates from the WFHET_05-2, mostly M8 but also an M9 and M7 certificate. Some of the values show a positive amount (8,200,000, i.e) and some show negative balances (-10,000,000 i.e.). This was a Bear-Stearns counterparty deal. What are these values representative of? The amount of the loss on the swap? Amounts vary among the M8’s. They show 9 M8’s, 1 M7, one M9.
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, HERS, Investor, Mortgage, securities fraud | Tagged: Bear-Stearns counterparty, disclosure, HERS, M7, M8, M9, Maiden Lane I, NY Fed, TARP payments, WFHET_05-2 |
AIG GAVE THE BANKS THE MONEY, THEY KNOW WHO GOT IT, AS THEM THEY TELL THE FACTS!!!!!!