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To: yard_man who wrote (145020)	1/21/2002 12:48:52 PM
From: reaper	Read Replies (3) \| Respond to of 436258

Tip, no argument that it is a "watershed" event. But many (like Abbey Jo) have tried to brush it off as a "one time" event (like LTCM). But by looking at less publisized stuff like Providian or Superior Bank or Conseco (done in by manufactured housing lending), one can see that there are banking failures going on all over the place, and Enron just happens to be the biggest and the baddest (so far). The talking heads are focussed on Enron being a SOURCE of financial distress. They think if it can be "contained" (i.e. no counter-party failures), like LTCM was, then everything is OK. I am focussed on Enron being a SYMPTON of financial distress, just one of a decent handful of companies that have failed so far and indicative of the bushel-full that are coming soon to a theatre near you. Anyway, why in the world are we arguing when we agree and we're short all the same stocks <g> Cheers