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Strategies & Market Trends : Gold - soon to be the new "in" play -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (10)	8/14/1999 4:29:00 AM
From: d:oug	Read Replies (1) \| Respond to of 40

Goldman Sachs and another financial scandal story for U.S. history. Subj: Charles Peabody - Executive Life Revisited Date: 8/14/99 0:49:29 AM EST From: LePatron@LeMetropoleCafe.com To: dougak Charles Peabody has served commentary at the Hemingway Table entitled, "Executive Life Revisited." Charles Peabody's commentary is the most significant we have ever put up at the Cafe and has the most astonishing of implications. There is no doubt in my mind that it will lead to one of the great financial scandal stories in U.S. history. "Yesterday, General American Life Insurance Co. announced that it was facing material withdrawals by institutional investors and that it was temporarily unable to meet such demands" "This discovery process should expose the seedier side of the derivatives market, as well as the complicitous nature of Wall Street in enabling the greed and deception to bloom unabated" "The major underwriters of securities for this insurance operation include ..., Goldman Sachs and ... These firms may prove to be complicitous in the creation of the firm's current problems" "The closed nature of St. Louis high society will also ... ... during the discovery process" "I believe that, as the discovery process unfolds, the city and county of San Francisco could be ..." lemetropolecafe.com Le Metropole Cafe All the best, Bill Murphy, Le Patron Yesterday, General American Life Insurance Co. announced that it was facing material withdrawals by institutional investors and that it was temporarily unable to meet such demands. Despite this shocking news of a potential default, the marketplace rallied the financial stocks strongly. And today the rally continues as old rumors of further financial services consolidation surface... ... I believe their benign approach to this company's budding problems was conflicted by the plans for this company to convert from a mutual holding company into a publicly traded stock company. In other words, no one wanted to lose out on the possibility of lucrative equity underwriting fees. It was only (coincidentally?) after the... The closed nature of St. Louis high society will also be exposed during the discovery process. I say this because of the interlocking... Finally, this story, when the final chapter is written, could show that some of the most respected firms ... were all scrambling to set up joint ventures or other business partnerships with this company in an effort to generate incremental revenues in the investment management process. Of course, the primary issue at hand is that the recent rise in interest rates is starting to expose its first victims. While most will describe this problem as a short term liquidity issue, one has to watch carefully as to whether or not it will become an issue of default. It is my belief that the current liquidity/interest rate problems will transition into a more general problem of credit quality over the next ... Send mail to lepatron@lemetropolecafe.com with questions or comments Copyright 1999 Le Metropole Cafe