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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (11234)	8/31/2004 5:34:31 PM
From: Haim R. Branisteanu	Respond to of 116555

do remember how he balanced the budget ? Remember who was in power in Congress - a guy named Newt ? Aside who initiated the strong USD policy and why ? Who initiated the changes in the way GDP or CPI or PPI or unemployment and other gov. statistics will be reported ? and why ? to rob the savers and the elderly and not pay more Medicare and Social Security remember ? remember who introduced the limits on Social Security payments for unemployed ? Bush is very wrong in his economic policy but I do think Clinton was any better - IMHO for the last 20+ years the US economy is/was destroyed to keep administrations afloat - the fist blow was under Carter ... since please let me know which administration had the benefit of the American people as a priority ? and which administration was not trying g to blow smoke into our nation eyes and which administration truly enforced the laws on the thieves and swindlers on WS …. And do not tell me that eliminating Drexel was for the benefit of the people and not for the other WS thieves and swindlers organizations

To: Knighty Tin who wrote (11234)	8/31/2004 6:11:25 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

J.P. Morgan syndicates the most loans in August [anyone have thoughts on this? - Mish] Tuesday, August 31, 2004 9:09:32 PM SAN FRANCISCO (AFX) -- By consistently grabbing the largest deals, J.P. Morgan, Citigroup and Bank of America are dominating the global loan syndication market in 2004, according to data from Thomson Financial's International Financing Review "Historically, the three have always held about 80 percent of the market," said Colette Campbell, an analyst with Thomson Financial International Financing Review. "At the moment, people are more interested in leveraged deals and high-yield deals. Investment grade is primarily undrawn lines of credit, so banks make very little money off it." Since the beginning of the year, J.P. Morgan has led more than $312 billion in loan syndications, giving it 20.4 percent of a worldwide market exceeding $1.5 trillion. In terms of volume, this translates as 635 loan syndications; the global market total is 4,115. Over the past month, J.P. Morgan originated more than $22.3 billion in syndicated loans. The largest of these was a $2.25 billion, one-year line of credit extended Aug. 9 to the Teacher Insurance and Annuity Association -- College Retirement Equities Fund. Other noteworthy J.P. Morgan-led deals include a nearly $1.9 billion, five-year line of credit extended Aug. 17 to KPN Telecom of the Netherlands for network expansion plans; the deal was co-managed by ING Barings and Citigroup. In addition, a $1.4 billion line of credit was offered to May Department Stores beginning Aug. 5 and expiring in 2009, with Morgan Stanley and Citigroup acting as co-managers. The second busiest syndicator thus far in 2004 is Citigroup , with 13.9 percent of the market, leading more than 456 syndicates valued at a total of $212.6 billion. Citi led 35 syndicates worth in excess of $17 billion in August. The biggest of these was a $2.5 billion, five-year line of credit extended Aug. 12 to Coca-Cola . The bank also led a $1.25 billion, five-year revolving line of credit syndicate, co-managed by Wachovia and issued to Kinder Morgan Energy Partners The third most-active syndicated lender in 2004 so far is Bank of America , with 11.8 percent of the market, leading 657 deals worth more than $181.7 billion combined. BofA's biggest deal in August was a $1 billion, one-year line of credit extended to Raytheon a transaction that was co-managed by J.P. Morgan Syndicated lending from Jan. 1 through Aug. 31, 2004 BANK value in $ billions % MARKET VOL