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To: stomper who wrote (132523)	11/2/2001 7:20:43 AM
From: Tom Smith	Respond to of 436258

slow motion default/debt implosion....just who thinks they will not default on the new securities? Perhaps a contagion of debt swaps will now sweep Latin/South America....afterall, such a swap offers the debtor an advantage, even if it is a stop-gap measure. Just what is the nature of these swaps? Is Argentina swapping its debt for say, Nortel plus Lucent accounts receivable?