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To: tigerman77 who wrote (187698)	8/14/2002 1:40:34 AM
From: LLCF	Respond to of 436258

<looks like the imf bailout of brazil is already failing....how will the big boys...citibank and jpm be saved now ! > Swaps??? Doubling up??? DAK

To: tigerman77 who wrote (187698)	8/14/2002 1:58:29 AM
From: TobagoJack	Respond to of 436258

The officialdom can transfer JPM and C derivatives portfolio to Saddam in exchange for some WMD, and set the counter-party train wreck in motion, kaboom, and all problems are solved in one smoooth move:0) Chugs, Jay

To: tigerman77 who wrote (187698)	8/14/2002 12:21:39 PM
From: BDR	Respond to of 436258

-bailout of brazil is already failing- Your government got debt? Here's a tip for Argentina, Brazil and the U.S. from 282 years ago on how to make it go away: A Very English Deceit: The Secret History of the South Sea Bubble and the First Great Financial Scandal books.guardian.co.uk "The South Sea bubble was merely the last and grossest of these, whereby the South Sea company was to "buy" - ie, take over from the government - the burden of the national debt, on the basis that it would then convert the debt into shares in the company. To persuade the holders of government debt to exchange their guaranteed stream of income from the Treasury for an equity stake in an enterprise which had no business and therefore no profits, and whose only "asset" was the economy's largest liability, would have taxed the skills of many a more recent fraudster. (edit-sounds like Enron. Shareholders were convinced to buy an interest in what proved to be debt and not much else.) But Blunt understood human nature and human ignorance, and used the two great pillars of greed and credulity to launch the first pure example of what has since become the classic form of capitalist fraud: company promotion. So long as he could persuade his contemporaries that the share price would rise, cash would pour into the company in limitless amounts in exchange for new shares, and the holders of government debt would convert their incomes into worthless paper. The national debt, or much of it, was thus first "equitised" and then, when the smash came, effectively liquidated." And a quote from Charles Dickens could well have described investors in tech/dotcoms circa 1999. "Meanwhile a form of group mania seizes whole societies, the subject of which can be anything from land to antiques, from stamps to tulips, from lottery prizes to - the purest form - shares. Charles Dickens summed it up: "As is well known to the wise in their generation, traffic in Shares is the one thing to have to do with in this world. Have no antecedents, no established character, no cultivation, no ideas, no manners; have Shares... "Where does he come from? Shares. Where is he going to? Shares. What are his tastes? Shares. Has he any principles? Shares. What squeezes him into Parliament? Shares... "Sufficient answer to all; Shares. O mighty Shares!... 'Relieve us of our money, scatter it for us, buy us and sell us, ruin us, only we beseech ye take rank among the powers of the earth, and fatten on us'!" - Our Mutual Friend, Chapter 10."