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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here
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To: elmatador who wrote (9382)11/29/2000 5:25:30 PM
From: Raymond Duray  Read Replies (1) of 12823
 
Hi elmat,

They usually overplay the fear and raise the spread. So it pays for bankers to 'pump up' the risks.

In the darkest days of the American Civil War in 1862, the House of Morgan issued government bonds to a panicked market that they made a 40% spread on as the underwriters. This maneuver took Morgan out of the ranks of second tier players, and moved them onto the world stage. They held other governments from the same war that eventually paid 65% cumulative annual interest.

Bankers love crisis. :)

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Is DSL dead? Take a peek at NPNT. We were right on that one. VZ put the bear hug on them and NPNT is a goner.

Best, Ray
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