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Pastimes : AX cOUSIN SHORTY,,,STOK Market GREW and famous AUTHOR!!!!
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To: Janice Shell who wrote (585)6/10/1999 9:31:00 PM
From: Henry Volquardsen  Read Replies (1) of 875
 
It's NEVER their fault. Now imagine how the story'd have played if it'd taken place in Italy, lolol.

Actually I much prefer the Italians to the French in such situations. When the French mess up they are all arrogance and J'accuse for months afterwards. When the Italians mess up they scream for a while but then they get over it, eventually you'll get a shrug and a smile.

In the mid to late 80s I was involved with the Italian bond markets. I have never had as much fun trading as when dealing with the Italians. There were more strange angles, quirks and arbitrages than in the rest of Europe combined. And you could always count on the gov't to throw in something special. I remember a time when there was a big panic in the Italian markets. A huge liquidity shortage developed that no one had expected and the bond market collapsed. THe next day we found the source of the liquidity shortage, the BoI had forgotten to make a coupon payment on a large bond. Everyone who had pre placed the money they thought they were getting was forced to scramble to borrow the money...hence liquidity scare. That story always reminds me of this book amazon.com I even have a copy. There were even wilder things they would do. Just like Rosanne Rosannadanna said, it's always something. Of course the Italian capital markets have become much more professional in the 90s....and much less fun.
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