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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%4:00 PM EST
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To: Crimson Ghost who wrote (50629)5/13/2000 11:26:00 AM
From: Haim R. Branisteanu   of 99985
 
George, banks now are also security brokers and the trading commissions and trading profits are a substantial part of their profits as are structuring and/or brockering in the derivative markets. Aside most loans are packaged and sold to your friendly pension fund or annuity institution (insurance companies).

IMHO the amount of derivatives are staggering on a world wide basis.

For example I recently placed an unknown corporate paper from South America re-insured by a South American insurer who was re-insured by an US based insurance company who raised money in the fix income market.

The note was priced according to the US Re-Insurer debt rating.

So even if the original unknown South America company goes bust the hit will be felt by the US bond holder who very likely is a US insurance company or US based pension fund.

Well if it sounds complex it is.

BTW have you heard of Suriname?? it is a nice country or Tombouctou or Antananarivo?? well those are nice cities ...... and they may issue similar notes who will be re insured the same way by US insurance companies .......... and your grandma annuity will partly depend on them paying back the loans.

........and BTW they are a sure thing as they will pay back the debt by bauxite or coffee exports or anticipated revenue from telecom expansion <GG> ...... did I mentioned US turism?? ......... flush with stock market profits??

Cheers all is so rosy in the derivative market <GG>
Haim
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