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To: reaper who wrote (65783)	2/9/2003 3:39:47 PM
From: NOW	Respond to of 209892

MBI? "And this today from the Wall Street Journal article (Henny Sender), “Spitzer’s Hedge-Fund Inquiry Eyes Credit Derivatives”: “Last year, MBIA saw demand for protection (credit default insurance on its debt) go from about $5 million or $10 million a week to ‘hundreds of millions of dollars a week by October for us,’ said MBIA President Gary Dunton. ‘Our view is that the market is too illiquid to be meaningful,’ he says. For Several weeks, Mr. Dunton adds, the firm indirectly sold protection on itself in an effort to keep the price from rising in a market sensitive to the sudden surge in demand. But when he became aware that the activity was primarily because of one hedge fund, MBIA withdrew from the market, Mr. Dunton says.” (An enormously exposed insurance company writing insurance on itself during a period of acute systemic stress? Very bad idea.)" prudentbear.com

To: reaper who wrote (65783)	2/11/2003 2:02:51 PM
From: JRI	Read Replies (1) \| Respond to of 209892

Thought you'd love this... Heard on Dallas radio yesterday: Announcer: "So, Joe, whatcha got for us today" Spokesman for Mortgage Company: "Frank, as you know, rates are at 40-year lows, and we have a great program for your listeners who wish to cash-out equity. It is a Federal program, and it doesn't care if you are behind on your credit cards, or that car payment....no, all you have to do to qualify is to have made the past 12 months of house payments on time...that's it...nothing else to worry about".