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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