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

To: Mike M2 who wrote (76925)	3/3/2000 2:10:00 PM
From: Tommaso	Read Replies (2) \| Respond to of 132070

Well, whatever is going on will guarantee employment for economists for the next half a century,trying to sort it all out. there is all sorts of disagreement about the causes of the Great Depression, and that was 70 years ago. I have a brother-in-law who became vice-president for public relations for Continental Illinois Bank just before it collapsed over bad oil-drilling loans--and he seems totally oblivious of what we are into now. but I am grateful that it's a finanacial mania and not a crusade--that no one is trying to make me march off on foot to liberate Jerusalem.

To: Mike M2 who wrote (76925)	3/13/2000 9:59:00 AM
From: Daniel Chisholm	Read Replies (2) \| Respond to of 132070

Re: non-bank lenders, the only question I have about this interesting quote from the Richebacher Letter is, where do the non-bank lenders get their funds from? Do they (shudder) get it (directly or indirectly) from the banks whose assets they are purchasing? (i.e., is there some sort of implicit overleverage on the part of the banks that does not show up in their balance sheets, since the asset-backed securities are no longer on the sheets of the banks?) - Daniel EDIT: hey., there's one awfully big, pretty grub coming up. I'll be good, and just content myself with this 2nd rate one....