According to the Post it’s the biggest mystery on Wall Street. Hurricane Sandy floodwaters inundated a
10,000-square-foot underground vault downtown, soaking 1.3 million bond and
stock certificates — including bearer bonds that function like cash — and
putting them in danger of turning to mush.
A contractor working for the vault owner, the Depository
Trust and Clearing Corp., is feverishly working to restore the paper. But the value of the threatened notes under
55 Water St. remains unknown to all but the innermost circle of Wall Street
bankers. One source said $70 billion in
bearer bonds were in jeopardy….
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