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To: James Strauss who wrote (11044)	5/23/2002 4:22:40 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 13094

Jim, yes, the gold futures are treating me well!! I think the US equity markets are close to walking off the cliff, again. One reason I say that is over the past few weeks many overseas contacts I know have expressed real concern about the integrity of US financial reporting and US brokers, not to mention US regulators. They said the dreaded words, the "US is now the banana republic of investing" They see us as a joke, nothing is to be taken at face value here anymore. And the truth is, I tend to agree with them. Wall Street has done itself in. I think we are going to see a major upheaval here, as more money is re-patriated to whence it came. The other shoe to drop may be a run on the US dollar, one that would make the recent weakness look like a walk in the park. This war biz in not a good thing either. Debt ceilings being hit, etc, etc.... Add in Israel is going to be making a pay-back move soon, India/Pakistan are close to releasing some of their nuke stockpiles on each other, Bush-lite thinks the rest of the world wants to join him in another "ground war" againt Iraq, and things seem to be getting a bit dark to me. What do you think?

To: James Strauss who wrote (11044)	5/24/2002 1:08:47 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 13094

This validates the lack of morals on Wall Street, and also backs up my last post> EToys Creditors Sue Goldman Sachs, Alleging Illegal Profit Off of Its IPO By KATE KELLY Staff Reporter of THE WALL STREET JOURNAL Online retailer eToys Inc., which went public during the "dot-com" bubble, became one of the few companies to turn against Wall Street and join the flood of lawsuits charging that securities firms profited illegally from hot initial public offerings in the boom. Los Angeles-based eToys , which sought bankruptcy-law protection from creditors in March 2001, charged in a suit filed May 15 in New York State Supreme Court, that Goldman Sachs Group Inc., which led its IPO in 1999, set a lowball price on the eToys IPO in order to gain illegal kickbacks from favored investors who received shares of the hot IPO. The relatively low price set for the IPO, the suit alleges, robbed eToys of hundreds of millions of dollars of cash that could have helped the company to stave off bankruptcy. The shares nearly quadrupled in price on their first day of trading. The suit charged that Goldman induced some investors to agree to give the firm a portion of the profits they later made on eToys shares in exchange for getting IPO stock allocations. Citing company policy, a spokeswoman for Goldman said the firm doesn't comment on legal matters. The suit, brought by a committee of the company's unsecured creditors, carries symbolic value because eToys was one of the better-known dot-coms to have crashed and burned. It parallels a lawsuit brought a year ago by creditors of a company formerly known as Mortgage.com Inc. against that company's IPO underwriter, the Credit Suisse First Boston unit of Credit Suisse Group. In January, CSFB settled charges by the Securities and Exchange Commission and the regulatory unit of the National Association of Securities Dealers that it violated securities rules by sharing IPO profits with about 100 hedge funds that paid outsize commissions in exchange for hot IPOs. In settling the case without admitting or denying wrongdoing, CSFB paid $100 million in penalties to the two agencies. In spring of 2001, eToys closed its doors for business and sold its trademark, logos, software and other assets to closely held KB Toys for $14 million.