Their business is so complex. Do you have any idea if their losses are temporary or are they marking them as permanent? I note in the 10k from Friday that they state they will refresh the accounting once it emerges from BK. That tells me the numbers on paper right now are way off. I'm assuming it's no where near as bad as they are making it look. The fair value of all of their assets could be a lot higher considering interest rates are going to remain low as per Bernanke.
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