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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (945)	8/11/2018 11:01:48 AM
From: Clam digger	Read Replies (1) \| Respond to of 13801

Yeah there are all kinds of credit default swaps layered to god knows where with who knows how many tranches....all poorly regulated, too complicated for anyone to truly understand and usually poorly capitalized. And when it all collapses who gets stuck with “the tab”?

To: robert b furman who wrote (945)	8/11/2018 10:02:17 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 13801

A few Italian banks like Unicredit have lent heavily to Turkey - but they're managed by Italians so it goes without saying, yes? Some French banks have participated in loans syndicated by Turkish banks, but it's a tiny percentage of their total loan portfolio and indexed to Turkish inflation. The only European government exposure is a paltry $30 million the EBRD (European Bank for Reconstruction and Development) invested in Turkish Lira bonds issued by the Swiss-based Migros Co-op, now the largest retailer in Turkey. But the big exposure to the Turkish Migros company is BC Partners, a London-based private-equity firm run by yet another Italian, Francesco Loredan. Migros, the big orange, is also growing fast in Italy and Macedonia, but predictably BC doesn't own any of that. Trump is following the same economic policy pioneered by Recep Erdogan, so remember to laugh heartily at the results.

To: robert b furman who wrote (945)	8/13/2018 5:17:53 AM
From: Robohogs	1 Recommendation Recommended By elmatador Read Replies (3) \| Respond to of 13801

Hey Bob. Chasing you from thread to thread. Don’t get too bearish. It feeds the other bears. This type of financing far less prevalent in true EM vs US and developed Europe. Turkish inflation has been near 10% forever. Meanwhile this is a currency crisis intensified by Trump (actions both ways do have consequences as Erdogan probably seserves this). But the Turkish metrics were healthy into the crisis. Young population. Per capita income on PPP in high 20,000s. Low debt. Low taxes. Few linkages to ROW unlike Greece. So if they can fix things, a blip. Maybe even if not. I do feel bad for the people though. Jon