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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: John Carragher who wrote (28339)1/5/2001 10:31:48 AM
From: AllansAlias  Read Replies (1) of 65232
 
I am not running out and shorting the market or anything. I'll wait and see how this develops, but frankly, what the heck would you expect them to say? Yes, we, like all the other big players, have hundreds of billions of dollars of derivative exposure that is underwater and, unless the economy turns around quite quickly, we stand a decent change of being flooded by defaults. Purveyors of truth these banks are not known to be, particularly in dicey situations.

Anyway, I do not want to get into a big discussion. Just wanted to drop by and let you know what the small panic was sparked by. It is indicative of the tight situation we are in and the low level of confidence by traders/investors. I am neutral the market except for futures trading.
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