S&P DowngradeS 4 Month Old Re-REMIC
Just saw this post on Zero Hedge about a downgrade of a recent Re-REMIC issue by Standard & Poor’s. re-REMIC’s are repackaged mortgage-backed securities of a supposedly more secure pedigree as they were to have been constructed of securities identified to be of better quality and thus less likely to default. Now, just 4 months [...]
