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

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To: GraceZ who wrote (211688)	12/28/2002 5:33:39 PM
From: ild	Read Replies (2) of 436258

Grace, do you have something that explains interest rate swaps in some details? I asked people on this thread #reply-18357168 previously, but didn't get a lot of information. My feeling is that the article is correct. Banks are currently able to borrow at very low rates, so they are offering customers with fixed long term debts to swap their debt with some lower rate but not fixed stuff. This has been working great lately because the rates have been going down. All that mean that there is a huge bet on interest rates staying low and it they don't stay low a lot of folks will lose their shirts. (I know that because I live in Orange County, CA -g-)

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