Tuesday, September 18, 2007

Quote of the Day

by Tanta on 9/18/2007 09:47:00 AM

Thanks to Clyde, we see that Morgan Keegan is having a wee bit of a problem filing a report. Oh, Mommy, will those subprime bonds ever stop being so hard to price?

This, however, is classic:

The lack of liquidity in the fund's securities could result in the fund incurring greater losses on the sale of some its securities than under more stable market conditions, Morgan Keegan said in the supplement filing.
How true. Back when the market was "stable" enough to let us all lever up twenty times, this kind of thing didn't happen.