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To: Box-By-The-Riviera™ who wrote (107365)6/7/2001 5:15:26 PM
From: pater tenebrarum  Respond to of 436258
 
the bad loan charge-offs have only started...and the banks are caught with a multi year low in loan loss reserves vs. assets. at the beginning of qu.3 2000 the consensus was still that the boom would continue unabated, and so they got a bit careless. NOW the consensus is that the boom will soon resume.
plus their speculation biz is in tatters...see recent admissions by JPM and Well's Fargo.