Iridian Analysis Raises Stakes to $150 Billion Loss: Another Bailout?

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Editor’s Note: This is the same game we played before. each estimate rises higher than the one before it. It is obvious that these figures will once again end up in the trillions. So here is the question, are we going to protect the American public or the capital structure of banks that screwed us?

11.02.10 IRIDIAN MBS ANALYSIS

the wheels of justice may grind slowly, but they grind extremely well. If we are correct in our analysis, we are not playing for 10% gains here and 5% gains there. We are playing for credit defaults and bankruptcies, for – if not a systemic risk – then at least a mortal threat to important actors within the system. And the current macro-driven investing environment notwithstanding, we believe that the market is still an effective anticipatory mechanism for specific catalysts impacting specific companies … we do not believe that we will have to wait two to three years to get paid on our ideas if we are right.

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