A portion of the cash component used towards the acquisition of NSM was raised by issuing unsecured senior notes, not via a bridge loan as you seem to believe.
Reiko
GOOD TRY
Let me do it this way
I will issue 1.7 bill in SENIOR NOTES paying 8.25% interest, tomorrow morning, SO YOU CUT ME A CHECK for 1.7 bill cash and try to find me!!!!!!!!!!!!!!!!!!!!!!!
GOOD grief NONE would touch my notes and CITI and BAC darn sure wouldn't BACK THEM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The MARKET aint as stupid as you seem to be alluding too
Something is backing those or they couldn't get squat for em..........
AND WHAT in the WORLD COULD WAND have of sufficient VALUE to back those notes!!!!!!!!!!!!!!!!!
And have to get any to participate in them???????????