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To: Oblomov who wrote (125612)	9/28/2001 9:20:10 PM
From: BGR	Respond to of 436258

Dot coms had a very low cost of capital, one which was dependent on interest rates, as they raised their capital from the equity market, which becomes less risk prone as interest rates rise. Masters of the Universe are typically masters only in their own mind. Typically, they are not very smart. Otherwise, investment banks would not have engaged in trading at all. BTW, investment banks are also known to have more VPs that shoe shine boys. Point taken about LU. How about, say, SEBL? Listen, unless you believe that the entire US economy had unsound business plans (which is slightly harder to pull off), and the sharp downturn on corporate spending - induced by higher interest rates and forecasts of a recession by a certain group of politicians itching to pass tax cuts - had nothing to do with the slowdown, at some point you will have to concede my point. The earlier the better.