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May 19, 2008


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Can I post some PIK toggle notes as collateral? Also these only go up, right?


@ Ian

Only if they're "AAA" rated by S&P/Moodys/3rd graders.

In response to your 2nd question, absolutely. Just like real estate (see National Association of Realtors party line).




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Yucks! are marginable to 10x, with applicable level-3 collateral posted as the Notes are marked-to-"model" weekly.

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