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

To: George Acton who wrote (91199)	6/12/2001 7:06:40 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

George, Banks are always fighting the last war. I do not think that LTCM was a full enough lobotomy for derivatives not to be a concern. But their next disaster could be in an entirely different field. I am thinking massive credit card non-payment. That seems unlikely, as the Law of Large Numbers works in their favor, but, then, I see the amount of credit I have on the plastic and I wonder. If I wanted to, and I don't, I could charge several times my current salary. True, my net worth backs it up, but if I were all in stocks and there was a decline, who knows? They say that when a bank builds a big skyscraper, watch out. My understanding was that Citigroup got rid of its building in NYC, though I don't know if they simply bought another or what. Shreveport is an interesting place. The fella I'm training with is a Louisianan, though from Alexandria. I've heard more Louisiana lore lately than I thought possible. And I know the name of every lug on the LSU football team. <g>