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To: Tenchusatsu who wrote (124308)1/5/2001 2:37:15 PM
From: Robert Douglas  Respond to of 186894
 
Ten,

Sure. It has to do with a bank lending someone a lot of money. If a small loan goes bad, no problem. If a big loan goes bad, it's the banks problems. Large loans don't get foreclosed, they get "reworked." They are too big to fail.

Some thought that LTC was too big to fail and that's why the Fed stepped in.



To: Tenchusatsu who wrote (124308)1/5/2001 3:26:46 PM
From: f.simons  Respond to of 186894
 
You ever hear the old saw that if I owe you a thousand dollars it's my problem, if I owe you $100 million it's your problem?

Ten-

I will never have $100 million, so you are not going to be paid back. Sorry 'bout that. I will most likely have $1000 someday, though it is looking less and less likely.

Frank