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Strategies & Market Trends : Asia Forum
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To: Henry Volquardsen who wrote (7249)10/21/1998 1:25:00 PM
From: Jay Scott  Read Replies (1) of 9980
 
Henry: Exactly, and if the shareholders in those banks haven't done their homework either, then I guess they get to watch their Citicorp stock go from the 180's to the 80's.

People apparently have yet to understand that only their deposits in the banks are insured by taxpayer money, not their stock. Too many have been caught up in the easy money made in the bank stocks over the last several years. With net interest margins narrowing, just where did investors think those stellar profit increases were coming from?

Now we are shocked to find out that those very risky loans that the banks made might not get paid off. Oops. That's okay taxpayers, just make that check payable to "IMF, c/o U.S. Treasury."

JS
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