| Fannie in Her Own Words
It just means that there are a lot of other securities below it, which will absorb initial losses. The danger is that this cushion is not much protection if the underlying collateral turns to dust... The latest Citi blow contained three scary nuggets. The first is nobody really knows where the CDO debacle will lead. The complexity of valuing these things - not just how the cash from the underlying collateral gets divvied up but how the the default rates of the different securities correlate - was underscored by the $3bn range Citi attached to its potential hit. The second is that the scale of the mess could be even greater since there are many synthetic CDOs out there referencing the cash CDOs. Lastly, Citi added yesterday for good measure that all it had detailed was its direct exposure. Along with others, it may have offloaded credit risk to bond insurers.
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This approach, known as "wait and see prescribing," advises parents to delay filling prescriptions for 48 hours unless the child fails to improve or gets worse. A method of this kind addresses the growing issue of antibiotic overuse, and thus the emergence of drug-resistant microbes. However, when medications are necessary, it is imperative that patients strictly adhere to drug directions and doctor instructions to guarantee the drug's full benefit. 2006-09-20 .
New Mexico joins lawsuit against EPA
New Mexico has joined 14 states in a lawsuit against the U.S. Environmental Protection Agency because the agency refused to grant a waiver to California for the Clean Car program. California filed the lawsuit on Jan. 2 in the Ninth Circuit Court of Appeals. The New Mexico Attorney General's office is representing the state in the lawsuit. New Mexico became the 13th state, and the first Intermountain state, to adopt the Clean Car program last month. The program, which took effect Jan. 1, requires car manufacturers to sell and lease vehicles that meet the Clean Car standards beginning with model year 2011. The program only applies to new vehicles and will not affect new or used cars sold before that model year. The program requires reductions in tailpipe emissions to reduce air pollution, overall reduction of greenhouse gas emissions from vehicles sold in the state and sales of some zero emission vehicles in the state.
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