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They are going to have to unbundle the MBS's and re-rate them. I read excerpts from a book a while back talking MBS's (thanks Rick, had to read to keep up) - it's a serious problem and there is no easy fix other than serious regulation, oversight and funding to ensure the reg's are met.
Problem is the bundler's bundled in garbage in accordance with the rules and nowhere in the 'bailout' are the rules changed.
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