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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: broadstbull who wrote (148560)2/4/2002 8:17:33 PM
From: LLCF  Read Replies (1) of 436258
 
Well there are a couple things... yes they probably descriminate, BUT, it's the U.S. firms that brought these great ideas to them [they didn't do that stuff], like doing swaps instead of actually selling loser positions and having to take the losses.... get rid of the risk without taking the loss. All sorts of that stuff went on. NOW, I don't know the legal particulars but in a lot of countries you don't get away with the stuff you do here just because it's against the letter of the law.... ie. it's my understanding that some governments, upon discovering a 'scam' to avoid taxes for instance, even if technically legal can go back and TAKE YOUR MONEY. OR if you were doing stuff that is clearly unethical, punish you accordingly. Like they [Japan} did to CSFB.

DAK
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