Monday, December 3, 2007
How much are mortgage-backed securities worth these days? Citadel Investment Group purchased E*Trade's $3 billion portfolio for an average of 27 cents on the dollar, which may set a market floor for CDOs. According to an E*Trade October report, 60% of its assets in the portfolio were rated double-A or better. WSJ, A CDO Floor of 27 Cents on the Dollar?