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Politics : High Tolerance Plasticity

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To: The Ox who wrote (12498)2/19/2002 12:19:04 PM
From: Steeliejim  Read Replies (2) of 23153
 
I agree with you philosophically. Every advancement in the development of industry and technology has been supported by equities and lending. But, db's and kb's mantra have been the markets don't go by what perhaps (note the qualifier) should be, but what is.

I admit I haven't a strong positive feeling re. NXTL LT. It provides a real service, but the flavor of the day is whether the financial institutions will be willing to continue carry and increase the debt loads of the NXTL's and WCOM's of the world. ATHM provided a real service too, and look what happened? If you look at how the banks are trading today, the markets are indicating "thumbs down," re. debt. In a contrary sort of way, I think that's tradable.
On the other hand, could we be starting to slide down that slippery "The only thing to fear, is fear itself," slope that could really unhinge things?
Jim
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