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

To: MythMan who wrote (69982)	11/3/1999 10:21:00 AM
From: Knighty Tin	Respond to of 132070

MM, But higher rates, or, more exactly, higher spreads, were what killed LTC, which, along with several other smaller losers who couldn't pay interest or principal, was what was about to bankrupt the banks. The broad market has been going down forever. It is just that last summer this near collapse of the entire financial system finally got folks to wonder about paying 100 times for the handful of "good" cos. growing at 15-25% a year. Or, in the case of the internets, growing losses at 50% a year.