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To: pater tenebrarum who wrote (81277)3/16/2001 12:44:55 AM
From: Ken98  Respond to of 436258
 
<<Derivatives netting

The bill contains provisions designed to simplify the treatment of complex financial derivatives contracts in the event of the bankruptcy of a major financial company.

Among others things, it would permit the ``netting'' -- or offsetting -- of all derivatives deals between the bankrupt firm and its trading partners to try to avoid having them tied up in court, risking a delay that could spread the firm's problems through the entire financial system.>>

...

<<Thursday March 15, 7:37 pm Eastern Time
FACTBOX-Key provisions of U.S. bankruptcy overhaul
WASHINGTON, March 15 (Reuters) - The U.S. Senate on Thursday cleared a bill to overhaul the U.S. bankruptcy code and make it harder for individuals to wipe out their debts.>>

biz.yahoo.com

Pretty neat what a few mil in campaign contributions will get you, huh?



To: pater tenebrarum who wrote (81277)3/16/2001 9:52:47 AM
From: Wyätt Gwyön  Read Replies (1) | Respond to of 436258
 
Heinz, take a look at this article, which addresses the current mess in plain English. substitute "malinvestment" for "overinvestment" and does it sound like an Austrian??
economist.com
(originally found here siliconinvestor.com



To: pater tenebrarum who wrote (81277)3/16/2001 10:40:37 AM
From: Box-By-The-Riviera™  Read Replies (1) | Respond to of 436258
 
this guy can always say...oops... later if he wants, just in case he's wrong

dailynews.yahoo.com



To: pater tenebrarum who wrote (81277)3/16/2001 10:46:31 AM
From: AllansAlias  Read Replies (5) | Respond to of 436258
 
Poor Abbey, poor Abbey,
Well I never thought,
That you and this market,
Would ever get bought.

You were sitting in the hot seat,
Just a shooting the breeze,
With yur hair up in curlers,
And the spoos on their knees.


(Apologies to John Prine.)

heinz, we are fast approaching an SPX level where Abbey will need a 50% run to make her target. What a sad footnote she is.