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To: KeepItSimple who wrote (80895)12/23/1999 8:59:00 AM
From: Follies  Respond to of 86076
 
He means, if the crash is secular (complete and indescriminant) then the entire
economic system will collapse. Puts will not be honored if the put writers go broke.


One of the purposes of the Option Exchange is to guarantee the value of contracts. The Fed won't let the exchange go under, they will just print money and bail them out and monetize the debt.