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

To: Knighty Tin who wrote (69417)	10/22/1999 10:33:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Mike, The current disconnect between stock prices, their movement, and business reality is often so large that you can really start feeling like you're playing a totally random game instead of one that has some underlying economic logic. At the track I can't always pick the winner. However, most of the results make sense given the way the race develops and the close ability of the contenders. It's tough, but it makes sense. On the other hand the results on Wall St. make me feel like everyone is running on a super designer drug that produces a lot of hallucinations. The more extreme the disconnect the higher the dosage. Wayne

To: Knighty Tin who wrote (69417)	10/22/1999 12:20:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 132070

MB, i don't know if you've read Tice's piece about the huge interest rate hedges put on by Freddie and Fannie...now somebody must have taken the other side of these trades, and according to Tice should be about $20 billion underwater by now due to the rise in rates. so how come none of this showed up in the banks and brokers earnings reports? have they successfully hedged the risk with third parties or are they concealing something in the hope that rates will turn around? do you have any idea as to what's happening here? regards, hb