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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Petrol who wrote (3459)9/30/2002 3:13:20 PM
From: MulhollandDrive  Read Replies (1) | Respond to of 57110
 
Message 18050871

RE: Implication of IMF/World Bank Allowing Sovereign Debt
From: Jim Sinclair
Date: Sunday, September 29, 2002

>>What effect does the latest proposal by the IMF/World Bank of allowing sovereign debt to be bankrupted have on the
1) U.S. Banking System?
A: You can now expect bankrupt developing nations to declare this reality in their own best interest. This will cause rating agencies
to recognize the worthless condition of this type of debt immediately upon cessation of payment on interest due, even if the
nation in question has not declared itself bankrupt. More banking institutional downgrades in credit worthiness can be anticipated
for US financial organizations. Debts of this type, now in arrears, will have to be scheduled from non-performing to bankrupt. No
bank can pretend that this type of debt is functioning any more, if it is not.
<<



To: Petrol who wrote (3459)9/30/2002 3:13:22 PM
From: Oral Roberts  Respond to of 57110
 
They appear to be getting it. Now does the gap fill turn us back or do we close green? Can't see how green is possible but we will know shortly.



To: Petrol who wrote (3459)9/30/2002 3:18:16 PM
From: Jorj X Mckie  Respond to of 57110
 
Short APOL


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