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To: William Peavey who wrote (46875)	1/8/2000 9:27:00 AM
From: Bobby Yellin	Read Replies (1) \| Respond to of 116767

Hi Bill Guess I showed my ignorance..(once again) Guess my frustration is increasing..this used to be the best thread on all of SI and I thought much better than Kitco with so many people presenting interesting information re the world economy etc with their own special perspective or interest..one didn't have to do a lot of searching to see what was happening and going to happen..this thread provided just so many fantastic sources of information and thoughts.. even though gold has not performed yet..I truly can't blame it all on gold's lack of performance but rather how the thread has turned into something..some many of the people who posted were also investing in the general stock market and still took the time and trouble to share their research and observations. take care and thanks bobby

To: William Peavey who wrote (46875)	1/8/2000 11:06:00 AM
From: long-gone	Respond to of 116767

-------------------------------------------------------------------------------- Related Quotes C 54 -1/4 delayed 20 mins - disclaimer Friday January 7, 9:09 pm Eastern Time Mexico IPAB takes final steps ahead of Serfin sale MEXICO CITY, Jan 7 (Reuters) - Mexico's bank agency IPAB said Friday it was boosting the reserves of intervened Grupo Financiero Serfin and setting aside its poorly performing assets in a final preparation for the sale of the bank, Mexico's third-largest. IPAB, charged with running Mexico's $100 billion bailout of the once teetering banking industry, said in a news release it would boost Serfin's reserves by 4.95 billion pesos (about $521 million). The previous amount of Serfin reserves was not immediately available, but the government agency said the additional reserves would place Serfin's coverage rate at ``international standards.' Part of the cash would be raised by the previously approved sale of its pension fund firm Afore Garante to Citigroup's (NYSE:C - news) Mexico unit for 1.1 billion pesos (about $116 million). In addition, IPAB (Institute for the Protection of Bank Savings) said it would separate 5.618 billion pesos (about $591 million) worth of Serfin's less desirable assets as part of ``the last phase of cleaning up the institution' before it goes on the block. Those assets were not identified. But U.S. investment bank Goldman Sachs, which is managing the sale of Serfin, recommended that Serfin's poorer quality assets be removed from the financial group to expedite its sale, IPAB said. Serfin and many other Mexican banks were clobbered by the 1995 economic crisis, Mexico's worst in half a century, in which interest rates skyrocketed, loan defaults proliferated and a million Mexicans were thrown out of work. The former deposit insurance fund Fobaproa was pressed into service to bail out the banks and prevent a collapse, and Fobaproa turned those duties over to IPAB last year. IPAB in July seized control of Serfin after Fobaproa previously issued IOUs to cover its debts. IPAB on Thursday announced it would begin auctioning three-year bonds to pay off those IOUs. The institute also said it expects to sell Serfin in the first half of this year. Bank analysts see London-based HSBC Holdings Plc (quote from Yahoo! UK & Ireland: HSBA.L), which already holds 19.9 percent of Serfin, and Spanish banks BBVA and Santander Central Hispano BSCH as possible suitors.