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

To: Kathleen capps who wrote (32261)	9/5/1998 12:40:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Kathleen, As far as I can tell with the info they release, which, in the case of money center banks, is mostly lies, CCI has a fair value of about $35. But, if they discover more bad loans, that number could go lower. The problem with big banks is that there is no way to do due diligence. They simply won't tell you how many loans or derivative agreements they have that are "perfoming" simply because they and their auditors agree that they are performing. And how many they might have to eventually writeoff. A clunk in Latin America would really be a slap to Citi. Of course, if the Fed allows it, they can once again loan countries money to pay the interest on previous loans and consider those profits. <G> Idiotic business except for the fact they know our taxes and Fed Chairman will eventually bail them out. Again. MB