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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (28930)	2/19/2003 1:12:59 PM
From: energyplay	Respond to of 74559

Hi LLCF - I don't know enough about pipelines to comment. El Paso EP has a big collection of pipelines, but also enough "issues" to end up on the Ricki Lake Show. Other learnings - Credit default insurance - also part of the problem, but tends to reduce 'single point failure' (one bank) by spreading the pain. Higher standards imposed by bank supervisors -not that the U.S. is having a nasty recession WITHOUT a single big bank failure, or eve n a forced merger. People at Comptroller of the Currency have been doing their jobs - maybe too well, but loan quality is really good for a down cycle. Recent adjustments to the fed funds window to make it easier for banks to borrow from it. This was partly an anti-terorism move, but makes the system more resilent.