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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (250596)	7/16/2003 7:53:45 PM
From: KM	Read Replies (1) \| Respond to of 436258

Is this doable? I'm thinking about shorting SCHWB, ET, AMTD thinking that when they crash out this latest round of margin monkeys, all those nice numbers go away. Would that work?

To: patron_anejo_por_favor who wrote (250596)	7/16/2003 7:54:48 PM
From: Secret_Agent_Man	Respond to of 436258

"--- Thy princes have become companion of thieves.’ They hang thieves who have stolen a gulden or a half gulden, but trade with those who rob the whole world ---" Martin Luther

To: patron_anejo_por_favor who wrote (250596)	7/16/2003 7:57:20 PM
From: Secret_Agent_Man	Respond to of 436258

Dont know if you saw this on FNM..1.9 Billion loss on DERIVATIVES. Their loss on derivatives was bigger than their profit...an unexpected single day rise in bond rates of 0.25% must not be a great tonic for this toxic portfolio! NEW YORK (Reuters) - Fannie Mae (NYSE:FNM - News), the largest U.S. mortgage financier, said on Tuesday its quarterly earnings fell 25 percent because derivatives it uses to hedge against interest rate swings lost $1.9 billion in market value…-END-