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TheStreet.com TV Recap: Seeing More Clearly on CDOs
Until now, what market players have lacked is any sort of transparency as to what bad collateralized debt obligations are, Jim Cramer said on TheStreet.com TV's Wall St. Confidential Web video Thursday.
However, now people know that home-equity loans issued and purchased by Novastar (NFI Quote), Fremont General (FMT Quote), New Century Financial, American Home Mortgage and perhaps Washington Mutual (WM Quote) and other mortgage originators that went belly up, were bad, he said.
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