MB,
Re:**http://www.prudentbear.com/credit.htm**, posted by hjsimpson - thanks homer.
A few questions. <<Today, Bloomberg reported that the
combined Chase and JPMorgan would have the largest exposure to Xerox, as both banks are on the hook for $375 million as part of the $7 billion emergency credit line.>>
I'm holding Put Leaps on both JPM & CMB. What happens to them, if & when they merge? BTW, did you know CMB owns Brown & Co.?
Also from Prudent Bear:
<<This afternoon, Dow Jones ran the headline” “Moody’s Won’t Downgrade California Utilities to Junk Before January 4th.”>> Now if I'm not mistaken, wouldn't alot of brokerage acct's and mutual fund money markets be holding this "stuff"? And if so, if this thing starts to snowball, how secure will people's money be in these MM funds if they have to start dealing with the SICP to get their $$ out??
And lastly:
<<From yesterday’s company release, we see that “as of October 31, 2000, MBIA had net par exposure of approximately $438 million to Southern California Edison and $590 million to Pacific Gas & Electric.”>> Maybe a good time to Put MBIA?
TIA,
Have a Happy Holiday and thanks for all your help,
Bill/WA |
