Re: this is what happens when you chase a yield
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I am relating this to hedge funds because that is exactly what they did with the subprime paper. They chased high yield paper and now they are going bellyup.
Over a trillion dollars are going to be lost.
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Says who? For one trillion to be lost there would have to be in xcess of 10Trillion in subprime mortgages or $100k for each family in the us. And most of the bad loans written in 2006. Sounds unpossible.
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