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

To: Knighty Tin who wrote (81326)	5/31/2000 2:06:00 PM
From: LLCF	Read Replies (1) \| Respond to of 132070

<it is important that you have the T-Bond collateral in your own vault when the big bank says, "heh, heh, can't pay back what you loaned us due to losses on derivatives and margin loans to idiots." Many supposedly govt. money funds do not take delivery on overnight repos. They make a couple of extra basis points in interest, but if the fit hits the shan, they'd better hope their lawyers are good and fast. > Let's say you're in a money market fund sweep account at say Merrill Lynch... aren't you backed by Merrill??? That said, I wouldn't want to keep a fortune @ E-trade. DAK