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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (26141)2/20/1998 9:18:00 PM
From: Knighty Tin  Read Replies (2) of 132070
 
Skeets, Right now, the MU bulls have one hope, and that is that all the other even dumber MU bulls buy into the anti-dumping scam. Again! -g- This stock is the greater fool theory beyond the tail of the bell curve.

My guess is the first to crack will be the convertible suckers. They are not typical holders of crapola like MU and I suspect they will be perturbed if the interest isn't paid, even though they signed up for a bond where interest didn't have to be paid because the buyers were brain dead. Actually, even if MU doesn't default, either de jure or de facto, the absence of coverage of interest might frighten some of these folks. After all, bond buyers, as opposed to stock buyers, in many cases have to follow the prudent man rule. Their watchdogs might object when there is no interest coverage at all. MB
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