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To: pater tenebrarum who wrote (54282)	1/4/2001 5:44:58 PM
From: Activatecard	Read Replies (1) \| Respond to of 436258

How about this as a scenario.. if this market crashes in the next 16 days, it's the Clinton crash. Any problems after the inauguration and it's the Bush recession.

To: pater tenebrarum who wrote (54282)	1/4/2001 7:06:54 PM
From: UnBelievable	Read Replies (2) \| Respond to of 436258

So Whenever The Market Goes Down We Can Just Panic and The Fed Will Change A Meaningless Number and Everything Will Be OK - Neat.

To: pater tenebrarum who wrote (54282)	1/4/2001 10:19:21 PM
From: Spekulatius	Read Replies (2) \| Respond to of 436258

PG&E blowup - Again read a good article about the CA energy crisis. it included a chart with PG&E sell price( a flat line) versus the PG&E purchase price. The price PG&E has to pay went up about 10 fold and the negative margin was about 150%. No interest rate cu will fix that. A bankrupty would be the best resolution because the electricity generators would never collect the money that they do not deserve anyways. The article also mentions the "electricity bonds" that were issued about 18 month ago. After the bonds were issued, the electricity prices were reduced by 10%. I never understood how increasing the debt of an utility will reduce the electricity price and obviously it doesn't <g>. This electricity thing is the most inept attempt to liberalize a market that I have ever seen.

To: pater tenebrarum who wrote (54282)	1/5/2001 3:21:11 AM
From: Bill/WA	Read Replies (1) \| Respond to of 436258

heinz, re:<<someone once worriedly asked me if buying puts on FNM made sense in view of the implicit government guarantee, and i assured him shareholders would be wiped out first, and they surely will, if it comes to that.>> That was me <G> And, being the eternal pessimist, esp. after learning what I have on this thread and Greenshank putting the screws to me in '98 I am still somewhat (maybe needlessly) concerned - re: my FNM Puts. Your comment <<we don't know for sure, but speculation centers on the California energy bankruptcy situation and Fannie Mae. both are likely candidates.>> Is it possible Greenshank could be trying to bail out FNM & FRE or possibly some of his hedge buddies holding some of their (FNM-FRE) derived instruments which could happen before <<shareholders would be wiped out first>>?? Please temper my pessimism<G> Bill/WA