Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Roebear who wrote (92849)	7/28/2001 7:29:00 AM
From: ldo79	Read Replies (1) of 95453

Roebear: Maybe I'm becoming too cynical in my old age, but the public press releases on this one don't jive. AP First reported is: "The thrift's failure is expected to cost the federal insurance fund an estimated $500 million, according to the Federal Deposit Insurance Corp., making it one of the costliest failures of a U.S. financial institution." Then comes from Reuters: "As of Friday, Superior had about $43 million of potentially uninsured deposits held by about 1,000 depositors, the FDIC said. That agency -- which backs accounts held by savers up to a limit of $100,000 -- will inject $1.5 billion into Superior to keep it operating as normal until a buyer can be found." Oh well, a half billion here, a billion and a half there. Easy come, easy go. Must be some reasonably valued properties in the Chicago area <VBG>. One must wonder where the next hairball gets puked up at - San Fran / Silicon Valley area maybe? To answers Iso's previous question, I remain 75/25 selected PM stocks/cash. No shorts - yet. Regards, ldo79

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