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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (6048)	7/19/2001 8:29:36 PM
From: TobagoJack	Respond to of 74559

Hi Don and CB, <<...We have been talking about whether there was real wealth that was destroyed when the market crash>> I will not argue that real wealth was in fact destroyed, but I will state that 'leverage-able' wealth was destroyed, equity backing for debt previously taken out was destroyed, bonds became value-less, companies disappeared, and folks got into trouble when their income could no longer service their debt, because business volume decreased. Chugs, Jay