User 176952

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  • Merrill CDO Deal: How Can It Book a 'Sale'?
    I am NOT an Accoutant, and neither rooting for MER but:
    When I buy a car from GM for $20,000
    I pay $2000 down and they finance the $18,000
    I have full control on the Car, but if I don't pay back the loan they can take away my car (which will be worth a lot less than $18,000 then)
    For now, they have taken a loss and removed the stuff from their books. I guess they are estimating that the CDO's won't go down to zero.
    Jul 29 17:19 pm |Rating: 0 0 |Link to Comment |View article

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