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To: Tommaso who wrote (13708)	2/1/1998 2:05:00 PM
From: danderso	Read Replies (1) \| Respond to of 18056

To what degree is this moderated by the new ( or revived) use of lines of credit at mutual funds? Dave

To: Tommaso who wrote (13708)	2/1/1998 6:26:00 PM
From: edward miller	Respond to of 18056

I'm trying to remember which thread discussed this issue. In contrast to your comments, the gist was that the fund management companies were effectively borrowing from the money funds for cash when they needed immediate cash, and then waiting for a better time to sell stocks. I can't confirm this because I didn't really follow that discussion very closely (and did not check sources). One can obviously see that in a real crash this strategy can be a huge problem, but if the markets don't actually crash they could get away with this without causing as much disruption in the stock market. Now, if this is actually happening, then if some weekend brings disasterous news from Japan that catches Wall Street totally by surprise (not likely), this could stress the markets to break.