Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Shorting the Big Banks (e.g. JPM, BT, CMB, CCI) -- Ignore unavailable to you. Want to Upgrade?

To: DAMY who wrote (126)	9/23/1998 4:12:00 PM
From: Don S.Boller	Respond to of 268

DAMY: NOT SO SURE ABOUT THAT.......................Yes, "they" got some back in CMB today, but I'm actually thinking of adding to my short if the stock rally's further. BUT HEY...don't follow me. Take your profits. Best, Don

To: DAMY who wrote (126)	9/25/1998 6:25:00 AM
From: Ganesh	Read Replies (1) \| Respond to of 268

Oh yeah? Check out Paribas (-15% today). UBS. European exposure to LTCM. Paribas, CCF and Credit Agricole, three French banks all directly INVESTED in LTCM. I'm not talking about swap or repo lines going belly up. There are countless others, but the others, the big ones, are in for a lot more. UBS's Q3 losses announced today ($717 million were due to emg markets only in part. The rest is Long Term Capital Management exposure.) And this is only the first bank to really, concretely announce the bad news, because UBS is big enough to handle it. Look at the list of those banks that wanted the Fed to bail out LTCM. Then short them all. The smaller the bank, the better. Any comments welcome. This is the only the beginning of the bank meltdown.