Wednesday, September 5, 2007

SS hit the rocks?

--on the hook for $29 billion if short term funding dries up for four conduits --four conduits are of a type that has just 10% of holdings in home loans --the chance of all four conduits hurt the company is low --the earnings from conduits acccount for only 1% of SS earnings while the losses will dent net income by only 8%

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