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Politics : Ask Michael Burke

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To: Jess Beltz who wrote (41384)	12/29/1998 6:30:00 PM
From: accountclosed	Read Replies (1) of 132070

Jess, lots of the loans to LTCM were unsecured loans. Banks make unsecured loans all the time. How would you propose to seal off all avenues of unsecured loans getting into derivatives? As long as banks can make large unsecured loans, their customers can do all sorts of stupid things and not repay the loans.

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