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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (39613)	8/24/2005 5:00:27 PM
From: Ramsey Su	Read Replies (3) \| Respond to of 110194

stand clear. I think there are big blobs of brown smellie substance that is about to hit the fan. May be ild's XLF idea is going to payoff? but what exactly is an unconfirmed trade and what is the problem with that?

To: russwinter who wrote (39613)	8/24/2005 5:01:18 PM
From: patron_anejo_por_favor	Respond to of 110194

>>The Counterparty Risk Management Policy Group, the banking industry group led by Corrigan that first met in 1999 after the collapse of hedge fund Long-Term Capital Management, said in a report on July 27 that 'urgent' effort is needed to tackle the 'serious' accumulation of trade confirmations. Banks should be prepared to consider reducing trading until the deals are confirmed, the report said.<< Sounds like there's SERIOUS potential for Nick Leeson-style "papering over the losses" shenanigans here. Amazing how sloppy the oversight has gotten. They (the countries largest financial institutions) could already be BK for all we know......<NG>