this shortfall will be permanent. that makes MLCFC 2007-5, 6 and 7 all shortfalling to AJ, which tells you something about Countrywide origination.
Wouldn't it be just a perfect storm if the Originator, Underwriters, and at least one of the other parties (Trustee, Servicer, Paying agent) in every single one of these MLCFC deals had merged together into one big failure of a company, kind of like the super-flu instead of a room full of kids with a cough, and then... oh, wait.
Yes, it would be called the Federal Reserve. How on earth can they not lose money if they took down the AIG bonds at par which are being talked low 60s?
Ha. I was thinking BankofAmerrillWide, but you really took it to the next level.
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