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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (29235)9/28/1998 5:19:00 PM
From: yard_man  Read Replies (1) of 94695
 
I don't borrow to speculate either -- I was just making the point that LTCM borrowed to speculate, lost only it's capital, right? The banks took over the positions. Some have said it isn't a bail-out.

If they are no longer on the hook for what they borrowed -- that is a bailout in my opinion and if it is the banks money, then the banks are no longer quite as strong as they used to be -- who suffers for that?
Shareholders and depositors perhaps?

Point is the risk was transferred to someone else. Not fair, IMO.
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