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Can I Use 'CDO' As A Verb Here?

As a regulator, what do you do when you have absorbed massive amounts of encumbered or otherwise distressed former CDO assets from a bunch of blown out former financial institutions? Well, if anyone here is old enough to remember the Resolution Trust Corporation, you already know. You make another CDO out of it, but this time you change the name, put the word "trust" in it, and offer up to 80% of seller financing. It's a leveraged CDO. Oh, and you keep an equity tranche for yourself. Sound familiar now?
In essence, that's what the RTC did with the sludge left over after the Savings and Loan Crisis. It's already been tried in this particular crisis too (do we have an official name for it yet?) Lehman, among others, put together a private partnership, sold toxic assets into it and gave the buyer seller financing just a few months ago. (See how well that worked?)
Of course, the argument is that the incentives are better positioned to effectively liquidate the assets which you really don't want the Fed et al hanging on to that long. But CDOing a CDO just rubs me the wrong way. So, when it comes out that Paulson is shopping around a similar idea, well....
I wonder what the partnerships will have for credit ratings.