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To: S. maltophilia who wrote (56186)	1/10/2001 12:45:59 PM
From: patron_anejo_por_favor	Respond to of 436258

<<How the **** can you get a AAA rating on a bunch of bad loans>> Dunno. Ask these guys?<G> biz.yahoo.com What you've described is the central fallacy behind a lot of New Era finance, namely that one can "insure" against massive and systemic poor lending practices. The problem is, there is no bagholder big enough to bail them all out when it turns bad (which will be fairly soon, IMHO).

To: S. maltophilia who wrote (56186)	1/11/2001 3:43:42 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

Khalil, you should read Doug Noland's credit reports from time to time. this is modern day WS Ponzi finance, and money market funds are brimming with AAA rated paper that's backed by dubious receivables. if anybody thinks the piper won't have to be paid on these excesses, better think again.