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To: Richard Mazzarella who wrote (39240)	8/18/1999 11:53:00 PM
From: Rarebird	Respond to of 116950

Is this a Reason behind the Selling? LONDON, Aug 19 ( Reuters ) - U.S. investment bank Goldman Sachs has lost money after being caught out in the money derivatives market, the Financial Times reported on Thursday. The FT report said the loss was incurred last month at Goldman's London swaps operation. Goldman refused to comment but rumours of a $100 million loss have been dismissed as far too high, the report said. It said the loss occurred as money market instability increased ahead of expected interest rate rises in the U.S. and Europe, and investors and banks became more risk averse in anticipation of computer millennium bug fears. The report added Goldman's swaps operation in London remained comfortably profitable despite the setback. Goldman could not be reached for comment on the report.