Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: NOW who wrote (73482)	2/28/2001 7:38:09 PM
From: patron_anejo_por_favor	Read Replies (1) of 436258

My guess is that the M3 meltdown will be preceded by the BKX collapse, but they'll be more or less simultaneous. One exception to this would be if there is a high profile blowup in a money market somewhere that causes a "run" on money market assets....in that case, it'll all go downtown in the same taxi. The part of M3 that's produced from mortgage lending will be slow to go away....those loans will be on someone's books untill default levels get critical and FNM implodes....and I don't think that's a prerequisite for the financial LLCF. Remember, you can't spell "BKX" without "BK"!!!!<G>

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