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

To: JRI who wrote (69438)	10/22/1999 4:50:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 132070

well, that's what TYCO says, not surprisingly. in any event, Fannies and Freddies interest rate hedges are documented fact. somebody has to be at the other side of these trades and that somebody has lost a lot of money. the fact that none of these losses have been officially reported as of yet leads me to believe that the positions have simply not been marked to market in the hope that interest rates would turn back down. that hasn't happened so far, so we will be in for a few surprises from the financial sector soon...