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Politics : Ask Michael Burke
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To: Paul Engel who wrote (33893)10/15/1998 11:35:00 AM
From: Mike M2  Read Replies (1) of 132070
 
Paul, Skeeter does not exaggerate. The money center banks lost about half thier value in 6 weeks from the mid July peak. We bears knew the submerging mkts and derivatives would hurt the banks and hedge funds bigtime it was only a question of when they would fess up. There is an article by Ackerman in gold-eagle.com pointing out if you timed your buy and sells right on the banking stocks you could make up to 35x your money so a ten bagger was a cinch. Mike
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