Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: retiredcfo who wrote (6646)	11/19/2001 1:36:19 PM
From: JRI	Read Replies (1) of 99280

Retired- (How 'bout that DeJuan Wagner? g) you say the banks are in good shape..what's your take on the nature and depth of the derivative problem.. Also, when we talk about credit/lending, don't we have to include many non-traditional lending companies/units (credit card issuers, etc.) that could be in for a real hurting in the next year(s).. For example, I read that Kohl's (department store) is projecting a certain rate of earnings, but has increased exposure on the credit cards...but reserves something like 1% for bad debt (vs. something like 8% for Sears)....Kohl's balance sheet is going to get whopped.. Also, look at the tech sector...how so many companies did ridiculous financing of sales....blah, blah.. Autos are going to be hosed next year....big biz for the repo man.. FNME's Raines is out in left-field on growth projections..and seems to have no plan/clue for any slowdown, deteriorating in credit quality Anyway, you get the picture...I think there are a lot more Gateways and Enron's out there......appreciate your thoughts.. Oh- one last...what about put selling schemes by Softie, Dell, etc.....can't they get nailed big time in the next year (exposure, deep underwater..)

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