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To: craig crawford who wrote (138636)2/5/2002 11:51:21 AM
From: H James Morris  Respond to of 164684
 
>>all one needs to do to see one is to cast thy eyes toward argentina<<
All one has do is look at Texas, and Oklahoma in the mid 80's.
Back then you could buy an oil rig for 5c on the dollar, after the price of oil crashed.
It wasn't just limited to Oil drilling states. Seattle First national bank was forced by the fed to be taken over by Bank of America because of its bad loans to the oil wild catters.
The Sea first common shareholders got left holding an empty bad as usual.
Trust me I know because I was one of them.
Ps
Now you know why I don't like Texas.