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

To: Henry Volquardsen who wrote (1088)	4/5/2002 3:14:27 PM
From: JBTFD	Read Replies (1) \| Respond to of 2794

<<fwiw I strongly agree that the use of special purpose vehicles caused the situation to get as bad as it did. They used those vehicles to hide the enormous debt and lack of revenues. If this information had been public knowledge the market would have provided feedback, via declining stock price and credit downgrades, that would have forced them to curtail their broadband and other new ventures long before they had gotten large enough to destroy the company. >> This is essentially my point. With the addition that it is my understanding that the SPVs were set up using the vehicle of derivatives, most commonly swaps.