Why wouldn’t Morgan sell more crap when they know that Geithner and Summers will come riding their unicorn to save them:
Morgan Stanley plans to repackage a downgraded collateralized debt obligation backed by leveraged loans into new securities with AAA ratings in the first transaction of its kind, said two people familiar with the sale.
Well I would sell some shit of my own if I had a guarantee that I have nothing to lose. Besides, AIG is probably insuring them with contracts that cannot be abrogated despite how shitty they are.
