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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (28778)11/2/2007 8:14:02 AM
From: Mark Marcellus   of 77740
 
In one deal, a hedge fund bought $1 billion in commercial paper issued by a Merrill-related entity containing mortgages, a person close to the situation said. In exchange, the hedge fund had the right to sell back the commercial paper to Merrill itself after one year for a guaranteed minimum return, this person said.

That sounds startlingly similar to the Enron barge deal. I guess being able to win on appeal is the standard for acceptable practices on Wall Street.
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