SP the key is the monoline exposure the entire financial word already knows that the monolines are lagging in their credit downgrades
to say that your monoline counter party is still rated AAA or Aaa is the same as sitting in the back seat of Thelma and Louise's Mustang and saying you have not gone off the cliff yet
its a structural element part of your JS scenario
write him an email and ask I am sure his reply will be very colourful
safe as a bank ..., page-4
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