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

To: Knighty Tin who wrote (31869)	8/29/1998 1:58:00 AM
From: PaperChase	Read Replies (1) \| Respond to of 132070

>>All the numbers are basically accounting fiction. I owned Franklin Bank, and it went down and hemmed and hawed about eps, so I sold it.<< What was interesting about Franklin Bank was that they went under because of foreign exchange deals gone bad. If I remember correctly, it was discovered they were incurring all the risk and were essentially gambling. With foreign currencies tanking now, I am sure there will be another Franklin Bank exposed by year-end.

To: Knighty Tin who wrote (31869)	8/29/1998 2:58:00 AM
From: DJRoss	Read Replies (2) \| Respond to of 132070

Hey, I am a recent lurker on this thread, and I would like to comment on this. As an American living in Sweden, I have had the "privledge" of working in the banking systems of both the US and Sweden, and you are absolutely correct concerning empty suits. Fortunately for me I was laid off and had to get a real job in the software sector. One company that I have invested in Sweden side is SKANDIA. They were strictly insurance until a couple of years ago when they decided that they could do a better job then brokerage firms investing their clients money. Revenues and return has exploded since they embarked on this venture. They have also recently opened up a banking service for the same reason. This is the first time that I have been satisfied that the administration knows what it is doing, and even in a market like this, they are making strides. Since you worked for American Capital, I thought the name Skandia would have popped up here and there with their daughter AIG Dug