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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (1049)	12/31/2001 4:12:24 PM
From: Henry Volquardsen	Read Replies (2) \| Respond to of 2794

Hi Clark, I think the Fed has taken back a lot of the liquidity that flooded the system post 9/11. They may have injected some more because of Argentina. There is some extra liquidity but I wouldn't call it a flood. I use to work in California for a major bank. I had a lot of contact with the real estate sector, particularly regarding hedging interest rate risk for large projects. I never met a California real estate insider, substantial or otherwise, who thought the banks were eager to lend. Not to defame your insider but his definition of refusing to lend may be different than yours or mine :-) My contacts in the real estate markets back here in the northeast haven't been indicating any particular resistance to lending. So the problem may be LA specific. A happy new year to you, and everyone else here as well. Hopefully 2002 will be a better year for all. Henry