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To: Cynic 2005 who wrote (58831)	8/26/1999 12:49:00 PM
From: Terry Whitman	Respond to of 86076

>Last week provided more evidence that the general economic environment is atypical as well. "Defaults Soar in First Half of 1999" was the title of the August 18th issue of Standard & Poor's CreditWeek standardandpoors.com This excellent report begins, "Continuing a trend that began in 1998, corporate defaults have soared in 1999. Fifty-five rated (or formerly rated) companies failed in the first half of 1999, exceeding in six months the already high number of failures in all of 1998. The debt involved, $20.5 billion, almost doubled the full 1998 tally. There is little doubt that 1999 will register the largest number of rated defaults ever; on dollar amounts that will represent an all-time record. As a percentage of the rated universe, however, it is doubtful that the year's figures will exceed those of 1990-1991." Well, that certainly leaves little to cheer about considering the strength of the economy today compared to the recessionary environment of 1990/91.< Hoho- Someone better tell Tice that increasing defaults is BULLISH. That means lots of suckers out there taking high risks. <g>