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To: oldirtybastard who wrote (62932)1/30/2001 10:55:57 AM
From: Box-By-The-Riviera™  Respond to of 436258
 
well before 2004?????

i hope so too. there won't be enough scotch to get me to 2004 dude!



To: oldirtybastard who wrote (62932)1/30/2001 11:40:30 AM
From: pater tenebrarum  Read Replies (1) | Respond to of 436258
 
of course they are assured of a bail-out - the money center banks exposure to derivatives, syndicated loans, and other forms of leverage means that every single one of them poses a systemic risk...accidents waiting to happen. even GE Capital is big enough to represent systemic risk in case of default.
so they KNOW they will be bailed out, and armed with that knowledge take on more and more risk. the mess gets bigger by the day in other words. widespread belief in Greenspud's free lunch, wherever one looks.