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Pastimes : Ask Mohan about the Market

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To: Cynic 2005 who wrote (7820)	11/13/1997 5:52:00 PM
From: Bonnie Bear	Read Replies (1) of 18056

Mohan: whenever we hear Greenspan speak the market rises to his words, in patriotic support of the feds. I remember Joan timing her short to one of his speeches. CNBC disclosed that 20% of global bank debt is bad. Ugly truths are hidden, and brokerages are desperately trying to dump stock as the extent of the damage becomes clearer. SO the new question is, who's going to pay for the back orders of capital equipment? Who's going to loan them the money? We haven't seen the bottom until we see losses show up on the balance sheets of some of the techs.

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