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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (162560)4/27/2002 7:21:58 AM
From: Earlie  Read Replies (1) of 436258
 
Dak:

Many thanks for the comments. I saw the FRE exec's statements (thanks to our thread's "info hound"), but had difficulty understanding the context of it. I have tried in the past to get my mind wrapped around their "hedging strategy" but in the end, just gave up. "Borrowing short to lend long" has historically led to "perfect storm" events for participants (derivatives not withstanding) and like you, I expect their Ponzi scheme to blow up once interest rates turn. Keep the comments on our "government-sponsored" twins coming as their derivative machinations are murky waters for me (and I suspect for most others).

Best, Earlie
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