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| Author: | Lee, P. |
| Title: | Bottomless pit or bargain basement |
| Journal: | Euromoney
1994 : DEC, p. 40-44 |
| Index terms: | SECURITIES INVESTORS MORTGAGES |
| Language: | eng |
| Abstract: | They once ranked among the masters of the universe. Now Wall Street's traders of mortgage-backed securities are lucky if they have a job, let alone see a bonus this year. Almost all the trading houses that dabbled at the dangerous and of these securities - the principal-only and inverse floater variety - took a hit this year, sometimes (they claim) just from making good prices to customers. Peter Lee lets us share their misery. |
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