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

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To: NOW who wrote (151363)	2/15/2002 2:59:30 AM
From: patron_anejo_por_favor	Read Replies (2) of 436258

ROTFL! That guy has a way with words, doesn't he: capitalstool.com It appears that the hook and ladder trucks had to be brought back to the 700-story JPM derivative tower today. JPM gapped down on the open and closed unchanged today, but there didn’t seem to be anybody interested in a 4.4% dividend yield. All those commercial paper backup lines being drawn down by the likes of Qwest and Tyco are probably adding to the big grease fire on the credit derivatives desk. Qwest was knocked for a 13% loss today. Tyco (TYC) lost another 6% since it appears that they have given up on the idea of splitting up the company. I would guess that nobody is interested in acquisitions these days because of the weak economy. Or, companies are too worried about controlling their own risk, and not interested assuming someone else’s baggage. I’m thinking that JP Morgan’s directors are getting more inquisitive about what exactly this $30 trillion derivative book looks like. Because if JPM fails, the Congressional committee will quickly forget about Lay, Skilling, and Fastow, and set up a “made for TV” live firing squad for the JPM board members and their accountants.

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