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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (28756)	6/2/1998 10:23:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Skeeter, the disclosure will be nice for the rational investor but greed stricken bulls will pay no heed "all I know is the stock is going up" . after the banking system's real estate troubles one would think AG would be concerned about the banks derivatives exposure. IMO his stance is more evidence that the FED is not as independent as the gov't would have you believe. Mike

To: Skeeter Bug who wrote (28756)	6/2/1998 11:14:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Skeeter, Wayne Crimi has a nice table of some banks and their derivatives exposure #reply-4682003 Mike

To: Skeeter Bug who wrote (28756)	6/3/1998 10:44:00 AM
From: Knighty Tin	Respond to of 132070

SB, It would work if they had to mark to market and there was a market. However, since the price is whatever Chaste says it is, as long as they don't sell, it probably won't hurt eps immediately until they are written off at some date in the future. But showing these garbage assets on the balance sheet may help the gullible wake up and smell the coffee. It is a lot like insurance cos. They carry bonds at par, even if they are selling at half of par. After all, if they wait 30 years, they go to par. <G> When regulators try to get them to mark to market, they cry foul. They have won every battle so far, so their balance sheets are the only thing that is really foul. <G> MB