Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, December 3, 2007

E*Trade's Portfolio Sale May Set Market Floor

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?

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