Merril has sold their CDO's so they can't write down any further, and a price has finally been set for CDO's.
ML's sale of CDO's also give the market hope that other co's can sell their CDO's and that at prices around this there are vulture willing to step up and take the risk of these assets.
Goldman themselves have $10billion set aside for buying risker assets at firesale prices.
Merril has sold their CDO's so they can't write down any...
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