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

To: JBW who wrote (64957)	7/21/1999 12:40:00 PM
From: Merritt	Respond to of 132070

JB: Yeah, BofA went in the sewer thanks to their chairman/ceo, Hough?, making a bunch of absurd loans to Latin American gov'ts - at the behest of Jimmy Carter (who then appointed him to a plum gov't job). But while there is still considerable exposure to questionable third world loans, the real U.S. banking danger of today, IMHO, primarily rest with their derivative exposure, which has been largely hidden from the general population, i.e. it hasn't been featured or stressed in the general press. But not to worry...it won't have a negative impact until either the dollar tanks, or the market drops 30% or so - and stays there for a few months, or at least several weeks. With the collusion/cooperation of the Fed and the Japanese central bank, that may take some time to come to pass, IMHO.