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

To: Knighty Tin who wrote (64159)	7/7/1999 5:39:00 PM
From: MythMan	Read Replies (1) \| Respond to of 132070

>>I still see a move that will make last fall look like a day at the beach. << Yeah but will any of us be alive to see it? -g-

To: Knighty Tin who wrote (64159)	7/7/1999 10:03:00 PM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Mike, a day a da beach with da Grim HO HO HO Is this sand taken? I was considering the possibility if the banks did lose big time on derivatives the Fed would arrange for them to default ( stiff the winning counter party somehow) I wasn't following the markets in 87 but I think I recall a story that the CBOE didn't open until after the markets recovery had been arranged. Mike

To: Knighty Tin who wrote (64159)	7/8/1999 12:44:00 AM
From: Merritt	Read Replies (2) \| Respond to of 132070

MB: My feeling, FWIW, is that stock and index derivative exposure isn't going to be a factor unless the underlying issues get severely depressed and stay that way for 2-3 months. So if there's a drop and only a small suckers rally, we'll all have time to get ready for a truly ruinous banking implosion. When you stop and think about how many will be ruined, maybe AG's actions were called for...but there should have been a quid pro quo; no bailout without a deal to unwind their positions once the market recovery occurred. Apparently that never happened, and the damn banks are still looking to get killed and don't care about how many go down with them. In fact, they're probably counting on the huge impact so many failures would have as to make sure that AG will bail them out. AG added permanent reserves today...see you at DOW 14,000 (after tomorrow's dip).