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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: excardog who wrote (82547)12/23/2000 1:16:18 PM
From: Don England  Read Replies (2) of 95453
 
this greenspan visits davis article didn't get any comment. i think it is just incredibly interesting. the part about 'ripple effects'... we are probably looking at the tip here where huge derivative postions begin to unwind as one default triggers another. no wonder a.g. is involved. i continue to believe that the credit mkts. here are extremely fragile; this 'local calif. problem' could be the catalyst that breaks the bank. the derivatives mkt. is absolutely opaqe. don
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