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

To: LLCF who wrote (81329)	5/31/2000 6:09:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

DAK, What I am saying is that I remember when Merrill was a horrible credit in 1974. A bear market would make them a horrible credit again. A couple of bad derivative trades could take them to bankruptcy very quickly. There is nothing wrong with loaning money to Merrill if they put up Treasury collateral, but if you are loaning to this BBB (even after the huge bull market) borrower, you ought to get much more interest for your risk than what you get on overnight repos backed by Treasuries.