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

To: Knighty Tin who wrote (72054)	12/24/1999 1:04:00 PM
From: Lymond	Respond to of 132070

MB, Seems like we're talking about both sides of the same coin here. I cite the cause; you describe the effect. It all comes down to the same thing -- overinvestment induced by putative government guarantees. While I think greater stock ownership now on the part of bank managements compared with previous cycles is a mitigating factor, the size of the systemic risks are bigger than ever. This IMO necessitates that a greater burden be imposed on institutional creditors, not just on stockholders. Regards and Happy Holidays, John