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To: Smilodon who wrote (838)	8/11/1998 2:15:00 PM
From: Sir Auric Goldfinger	Read Replies (1) of 3015

The SRCM bonds (rated BBB-Junk) are quoted ? x 103 (Ask only) by NATWest (the undertaker). When looking around the Street for a bid, our man, Oddjob was only able to find a hedge fund with a 93 Bid. Gee, I wonder if there is some risk in this thing? Well, I says to myself, this probably implies that there might be some risk in the equity side as well, since, by definition, if the bondholders don't get their money back, well, the shareholders get BOHICA!

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