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To: Terry Swift who wrote (5743)	1/13/1998 2:49:00 AM
From: PaulM	Read Replies (1) \| Respond to of 116790

"We have already defaulted in the U.S."............ yahoo.com Why are we never given basic investment disclosure when it comes to banks? On whose debt did Peregrine default? Who are Peregrine's creditors? What is their exposure? And while we're at it, what are particular U.S. bank's exposure in Asia in general? All of this shouldn't be so difficult to figure out. I did hear one analyst say Citicorp was a major creditor. It's interesting that ther dollar fell briefly vs. the duetche mark in part because of Peregrine's default the U.S. It's generally assumed that Europe has greater exposure to Asia than the U.S. This is probably true, but this one default was enough to make the market second guess a bit.

To: Terry Swift who wrote (5743)	1/13/1998 4:31:00 AM
From: Alex	Respond to of 116790

Hi Terry. An oddity from Kaplans' site................ A friend of mine, who has been bullish on the U.S. stock market for many years, decided to cash out of his primary mutual fund family on January 5 by transferring all the assets to the money market fund. The fund representative repeatedly refused to initiate the transactions, insisting that the stock market was the best possible form of investment and the money market fund was intended "only for retirees" [I won't mention the mutual fund family for legal reasons, but it's EXTREMELY well known]. Finally, my friend succeeded in his attempt by stating, "I was just thinking of retiring!"