If you explain to me the following paragraph for me?
But last July, credit markets, many Wall Street collapse Bank loans were caught, they promise and guarantee Has a significant value of debt obligations. Merrill Lynch subprime Mortgage loans and debt obligations of 4.5 billion U.S. dollars worth less worse start Are unable to resell 463 million U.S. dollars and hedges, net, I promise to fund the loan. ———————————— ————– —————————— Thank you!
Merrill Lynch on the assumption that a certain amount for their Think you can resell the loans, some amount of money Means customers are to breed. Tell them John, give a loan of $ 20 Be able to resell their interest, because I think After 22 bucks for a B bank loan, John, 30-year process of re-35 Dollars to pay for. Well, B avergae subrime bank loans and new trends See it out of the zone again before the same customer-only by default Paid $ 15. If so, they have to make money So, Bank B is offering $ 14 purchase loans quick history Nickel-Dime opposed to only slowly since it collects I'm gonna wait, is Merrill Lynch. Because they asked So a loan from Merrill Lynch to sell loans to 14 dollars, Or feel like they are holding him to collect it That confidence can be. For example, types a fool, but in terms of laymens Look, what's going on.
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