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Strategies & Market Trends : The Millennium Crash

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To: gregor who wrote (3599)	10/1/1998 5:04:00 PM
From: yard_man	Read Replies (1) of 5676

I think the banks aren't coming clean yet. I think BT's statement is phony baloney -- these guys only used 1% margin? Ha -- no way! Looking at the prices of these stocks -- a lot of people don't believe such statements. There was another article last week from UBS which the CEO admitted the loss due to the LTCM debacle and then said he expected that some of it could be "won back." I think there is more trouble to come. Where stocks are going I don't know, but I wouldn't buy the financials here even as a speculation. Can't remember, was UBS one of the banks that ponied up 300M? I try to ignore Cramer. See PM.

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