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

To: PaperChase who wrote (70316)	11/10/1999 11:19:00 AM
From: Earlie	Read Replies (6) \| Respond to of 132070

PC: In addition, some mutual funds have sought (and gained) permission to borrow from their own money market funds if they get into a bind. Mind-blowing stuff, but true. Not that I think it will save them when the redemption calls begin in earnest (which will not occur until the losses reach frightening proportions,....the public has been thoroughly brain-washed this time around). Best, Earlie

To: PaperChase who wrote (70316)	11/10/1999 12:14:00 PM
From: valueminded	Read Replies (2) \| Respond to of 132070

PC: Reference: <massive lines of credit to avoid forced redemptions>. I would be interested in any links as to: 1.size of the credit lines (market value is currently 16trillion. A 10% withdrawal represents over 1.6trillion dollars. ) 2.what assets used to back up the credit lines - if any (stock would seem to be poor collateral in a bear market) If it isnt anything, the creditors would seem to be at risk of being taken out by the fund companies. 3.if the mutual funds can borrow from the money market funds it would seem that money funds may not be a safe place in a downtrending market. thanks