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To: UnBelievable who wrote (54155)6/14/2000 9:39:00 PM
From: pater tenebrarum  Respond to of 99985
 
they're not just holding so much stock, they're also selling as much of it as they possibly can, and asap at that. the explosion in insider selling seen since the beginning of this year is historically unprecedented.

the problem with derivatives is not individual risk - it's systemic risk. risk that is 'hedged' by one party, is taken on by another. the game depends on markets staying 'rational' and non-volatile. it is mainly the possibility of counter party failure that represents a problem. as i have mentioned before, the derivatives, along with the extreme leverage, have grown along with the record expansion. they remain relatively untested in true stress and recessionary conditions.