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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Kapusta Kid who wrote (89389)	2/10/2001 4:20:04 PM
From: Knighty Tin	Respond to of 132070

Pete, Sounds just like the way American insurance cos. value bonds. Of course, with rates very low, they don't have a lot of underwater bonds any more. But there was a time when lots of policies were backed by bonds selling for 70 cents on the dollar and being collateralized against obligations for the dollar. I was an equity guy then and I always wondered why we couldn't do the same. Actually, I think they would have allowed us to value stocks at par, but that would not have been a great deal. <g>