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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (98238)	2/27/2003 2:12:18 PM
From: Joan Osland Graffius	Read Replies (2) \| Respond to of 132070

Mike, I wonder if we are close to a credit crunch as these pension funds and insurance companies are starting to take it on the chin with these structured finance instruments they bought. I can not believe they will buy more of this junk. This could be a serious problem for Greenspan as he has to keep interest rates low so the whole house of cards does not blow up as the foreigners will be bailing. My guess is he will have to let the dollar trashing machine take over and buy treasuries is the only option he has.