[DeaconBenjamin]

Not looking pretty. Toxic sewage backing up?

[joebuck]

"...some of which had 70 per cent or more of their total investment devoted entirely to CDOs,"

The bulls get rich, the bears get rich and the pigs get slaughtered.

[Professional]

I bet this crap was America’s largest export product of the year.

Fair trade, you can’t handle fair trade! We’ll raise you one cdo, for your toxic lead sponge bob bath toy!

[Always Right]

There is a lot of legal jeopardy for companies who packaged and sold these subprime loans as safe mortgage backed investments. This is the first in a long line of legal suits.

[Proud_USA_Republican]

If you can’t understand it, you shouldn’t invest in it.
The ones in charge of the pension money are the ones responsible for this. Nobody forced them to buy anything.

What they were caught up in was the high rate of returns in the highest risk rated tranches of these CDOs.

[jiggyboy]

Yep, let the lawsuits begin. CNBC will be asking “is this the last of the subprime lawsuits?” all through 2008.