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To: schrodingers_cat who wrote (128552)	7/18/2001 7:17:40 PM
From: GST	Respond to of 164684

Cat: With us it is the consumers' balance sheet that is broken -- and the effects can easily last a year or two.

To: schrodingers_cat who wrote (128552)	7/18/2001 7:20:53 PM
From: GST	Read Replies (1) \| Respond to of 164684

IBM said that its chipmaking business would fall off dramatically, making it tougher to offset the effects the strong dollar and investment write-downs will have on profits. Shares fell on the news in after-hours trading. siliconinvestor.com

To: schrodingers_cat who wrote (128552)	7/18/2001 8:56:14 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 164684

sc, japan's banks were nor forthright during the japanese bubble and neither are the us banks now. ask yourself this... how can one little hedge fund threaten to take down our banking system? think long term capital management. it almost happened. derivative exposure is the snake hiding in the grass - and it will poison us eventually. sure, there are differences. but there are also POWERFUL similarities, too.

To: schrodingers_cat who wrote (128552)	7/18/2001 11:43:43 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 164684

<<. Interest rates won't make much difference if the banks are unable or unwilling to lend.>> Exactly. That's what "pushing on a string" is all about. There's lot's of evidence that banks AREN'T willing to lend, cause their customers (the ones willing to take on more debt) aren't creditworthy. Lending has been dropping, check the quarterly reports of the big banks that just reported (BAC, ONE, JPM, C). They're all pulling in on C&I lending, as evidenced by these charts stls.frb.org