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Non-Tech : Conseco Insurance (CNO) -- Ignore unavailable to you. Want to Upgrade?

To: AK2004 who wrote (3442)	10/6/2000 6:26:17 PM
From: Mama Bear	Read Replies (2) \| Respond to of 4155

"remember that accounting should have some ties to reality albert, did you know that Iridium listed it's book value at over $30 per share just before it was forced into bankruptcy? Please don't give me a line about comparing CNC to IRIDQ as I'm not. At least not in the above statement. Regards, Barb

To: AK2004 who wrote (3442)	10/6/2000 10:02:39 PM
From: F. Lynn	Read Replies (1) \| Respond to of 4155

If you are saying that accounting equity is not the same as economic value, remember- this is a financial company, one with mainly financial assets, and one with mortgage origination activities and hence likely to have highly toxic I/O strips all over its balance sheet. I cannot recall a single finance company that ever had to mark assets up, instead of down, in a liquidity crisis. If economic value and accounting value diverge the latter is almost certainly the higher figure.