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To: Andy B who wrote (179)	10/25/2000 3:54:17 AM
From: Nukeit	Read Replies (1) \| Respond to of 74559

Any guess on which major financial institution is going insolvent? They would not be doing this if it wasn't necessary. About a week ago, someone on SI mentioned that one of the investment banks were having major derivitive losses. I am going to see if I can locate the post.

To: Andy B who wrote (179)	10/25/2000 5:23:10 AM
From: The Duke of URL©	Read Replies (1) \| Respond to of 74559

The legislation would allow a bank or investment firm in bankruptcy-court protection and its creditors to use the net value of the company's losses from derivatives trading in calculations, rather than the much larger gross value. The difference is designed to avoid tying up the trading contracts too long in bankruptcy proceedings. This makes no sense whatsoever. This statement has been carefully crafted to conceal whatever it is the sponsors of the Bill really intend. The article mentions that it is HR1611 (?). Does any one have a url to the text of the bill?? TIA