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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (31869)8/29/1998 1:58:00 AM
From: PaperChase  Read Replies (1) of 132070
 
>>All the numbers are basically accounting fiction. I owned Franklin Bank, and it went down and hemmed and hawed about eps, so I sold it.<<

What was interesting about Franklin Bank was that they went under because of foreign exchange deals gone bad. If I remember correctly, it was discovered they were incurring all the risk and were essentially gambling. With foreign currencies tanking now, I am sure there will be another Franklin Bank exposed by year-end.
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