Michael: > Yes, but the victims are likely to be pension > funds and public agencies.
Quite likely. But nowadays I don't follow the financial markets as closely as I used to, so I am not certain who exactly will the victims be. Who are the main purchasers of these CDOs, does anyone know? If pension funds are among them, then they are in trouble since they are technically the least sofisticated, after the insurance companies, I must add. I doubt that they have the right people to assess the risks associated with such complex financial instruments. Sabri
