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Technology Stocks : America On-Line (AOL)
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To: Sonki who wrote (25023)7/7/1999 2:12:00 AM
From: Sonny McWilliams  Read Replies (2) of 41369
 
Sonki. Ot.Ot. Besides the obvious. I am sure you remember who threw their weight around and intervened so LTCM would not drown. Anyhow, LTCM paid back 1 bill. to those banks that rescued LTCM but still owes about 2.5 bill. to them and who knows if interest is included in this amount. Insiders who started this hedge fund did not get any money yet, I guess. The 300 mill. went to other investors that orig. invested with the insiders. I am not quite sure how this whole operation on this hedge fund works and who all those insiders are (I heard of some of them) and what is still owed to other outside investors.
The fund seems to have made a profit again and was able to pay back part of what it owed.
Nice to have friends that bail you out to the tune of 3 1/2 bill. when you make bad investments. Sheesh. If you remember it was done so a house of cards would not collapse and throw the markets into a turmoil. I listened to that Senate Banking Hearing when it was discussed and those Senators put A.Greenspan through the wringer at that time. Sheesh, nobody bails me out if my margin goes over the top. gg. Lucky this year on that score.

While we are a bit on ot. Did you see this article on MRBA?

biz.yahoo.com

Where do you think AOL will be if Acampora's target of 13.000 will be reached by the end of this year?

Sonny
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