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Strategies & Market Trends : Waiting for the big Kahuna

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To: HairBall who wrote (28788)	9/24/1998 6:00:00 PM
From: Monty Lenard	Read Replies (1) of 94695

Gee I doubt I can repeat it but will try. Basically, Joe B. was saying that in the last 20 years the banking industry had gone through similiar problems (LTCM type) and survived. Bill F. countered and said he agreed but the bubble in derivatives had grown so large that it could destroy the banking system. He said that it started when we bailed out Mexico. That after that these people felt they could take any risks they wanted and a bail out would save them if it went bad. Joe B. countered with something about Mutual Fund assets were in the Trillions and the LTCM type hedge funds was just a drop in the bucket comparatively speaking. Bill F. said that the Mutual Funds assets could not be used to help the situation and in fact we may find that the derivative exposure very well could exceed the MF assets. They pretty well lost me after that. Can't describe it but I know it when I see it kind of thing. Maybe someone else saw it and can describe it better. Monty

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