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Politics : Ask Michael Burke
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To: Kathleen capps who wrote (32754)9/24/1998 2:12:00 PM
From: Knighty Tin  Read Replies (3) of 132070
 
KC, What it means is that the banks and brokerages are already on the hook and they are trying to join forces, with Fed nudging, to save this bad creditor. What it really means is losses for all the lenders on the hook. It may not show up, because if they loan them money to pay the interest, banks count that as profit. But, real world, they are getting hit. And, dangerously so, or there wouldn't be so much concern. MB
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