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To: NOW who wrote (113070)7/17/2001 3:33:26 PM
From: pater tenebrarum  Read Replies (3) | Respond to of 436258
 
you may have noticed the finanshill media downplaying the money center banks exposure all last week....you'd think the whole world could disappear into a black hole and it still wouldn't matter to them. that tells me, since i have this propensity to assume the worst, that their exposure is in reality rather worrisome. SOMEONE owns all those emerging market bonds after all - and with emerging market credit spreads back at '98 levels, that someone is hurting big.