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Gold/Mining/Energy : Gold Price Monitor

GDXJ 136.90

+6.5%

Feb 9 4:00 PM EST

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To: Bobby Yellin who wrote (30910)	3/31/1999 7:09:00 AM
From: long-gone	Read Replies (3) of 116972

<<can't remember>> It's ok, stuff like this can not be said often enough - Scarry!: "To be up-front, not all of the $28 Trillion exposure is currently at risk. Actually, when looking at only interest rate and foreign exchange derivatives, only $11 Trillion is at risk with an expiration horizon of less than one year and another $11 Trillion exposure for a 1-5 year expiration horizon. Whew, that's a relief!" proxy-mail.mailcity.lycos.com "One you can see, if Chase were to suffer a 10% loss in the derivative exposure which expires in less than one year, their entire asset base would be wiped out. For JPMorgan it would only take an 11% loss to wipe out their asset base." OK, These quotes show the problems were "systemic" in nature. Now, one must wonder if those guys got themselves into trouble, why should they continue to get monster paychecks forever as though they were winners?

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