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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (62812)	6/19/1999 5:07:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Joan, Welcome back. I hope you had a great trip. MB

To: Joan Osland Graffius who wrote (62812)	6/30/1999 11:08:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

Hi Joan: The 125% mortgage madness has been in operation for a while now. I'm delighted that it has not yet spread north of the border. The numbers are beautiful are they not? Borrow short to lend long. Also lend at totally mad valuation levels and then compound the folly by adding 25% to the lack of coverage. When this whole Alice-in-Wonderland play is over, history will shake its head at the stupidity of it. No wonder the U.S. consumer is on a borrowing binge,....they are stuffing the money into his hands and whispering "go have a good time my lad, you deserve it". Best, Earlie