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To: DebtBomb who wrote (62796)7/27/2002 12:34:51 PM
From: SusieQ1065  Read Replies (1) | Respond to of 208838
 
It scares me, too...and here's more, Bank of America
having to go to Fed for Bailout?....

A hedge fund manager told me if Morgan closed below $20, they were history due to certain capital markets. By buying the Dow futures, the PPT encouraged arbitrage buying of Morgan as part of the basket of Dow stocks. Amazingly, J.P. Morgan Chase closed at $20.08, down $4.44.
The financial desk of a major firm reported: “massive over-the-counter derivative problems.”

From a highly respected Café member:
Just received word from a very trusted source in Toronto that BofA is in big derivatives trouble and has quietly gone to the Fed for a bailout.


Message 17784136