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Strategies & Market Trends : Waiting for the big Kahuna

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To: Oeconomicus who wrote (17014)	4/21/1998 10:46:00 PM
From: Mike M2	Read Replies (3) of 94695

RD, derivatives market makers and players may feel that they have minimzed risk by matching their books but may get burned when the counterparty becomes insolvent after a major market move. JP Morgan had two problems in south Korea one SK firm owed Morgan $500 million another $180 . South Korea courts ruled that SK firms did not have to pay because Morgan failed to adequately explain the risks. I don't know if they appealed. Mike

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