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To: Howard R. Hansen who wrote (7852)	11/18/1998 10:22:00 AM
From: John Schott	Read Replies (1) of 11149

QUIP ON QUIPS If my fading memory serves, QUIPS were something MLPFS (when they still were MLPFS) dreamed up as another "product". [To me: A "product is yet another proprietary derivative to sell thus making a commission or fee where there was none before .] As I remember it, it was a prepackaged strip - that is a set of bonds where the coupons were detached from the bond principle to trade freestanding. [Others then copied the same idea and MLPFS sued. Don't remember who wons what, but each of the others naturally had another name for their product.] Trouble is - I can't remember which side of the split a QUIP was. Ask a local ML (FKA MLPFS) office.....

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