I want to know the answer to the following question:
How much did JPMorgan estimate was the average recovery rate for mezzanine CDOs that had been liquidated?
All the background I'm provided with is that "Banks estimated that $450bn of CDO were sold between "late 2005 to the middle of 2007"; among the $102bn of those that had been liquidated, JPMorgan estimated that the average recovery rate for "high quality" CDOs was approximately 32 cents on the dollar, while the recovery rate for mezzanine CDO was approximately five cents for every dollar.". Is that enough to answer the question?
Answer: yes