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Re: rookiecrd1 post# 54858

Thursday, 08/24/2006 3:38:32 PM

Thursday, August 24, 2006 3:38:32 PM

Post# of 169275
Nothing was "given" to them. The assets were placed in a trust. The trust is a buffer to liability. In essence, the trust can declare bankruptcy to protect the assets. It's standard practice when you're dealing with asset backed securities and taking that pool of assets forward in securitizing them. The don't "own" the assets. Quite the contrary.

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