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Strategies & Market Trends : Tech Stock Options
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To: Brad Bolen who wrote (54186)9/29/1998 1:53:00 AM
From: Robert H.  Read Replies (1) of 58727
 
Very complicated;

...bottom line is 26 trillion is a lot of $$. At this time banks are trying to call in some of the leverage credit that they have extended.

This will make the funds unwind positions. ..sell assets.. and could create a sell-sell chain reaction.

The bailout of last Wed. and Greenspeaks lowering of the interest rates are all part of the same game.

Mr Peabody said: "In a fully deregulated system it is difficult to predict where the next implosion will occur."

He estimated that the notional value of the US banking system's exposure to leveraged derivatives at US$26 trillion.

Mr Peabody, a long-term critic of high levels of debt within the banking system, estimated that 95 per cent was concentrated in the top-eight US banks.

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