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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (241)	9/28/1998 6:51:00 AM
From: IngotWeTrust	Respond to of 2794

Henry sez: Where Orange County got in trouble was on things like reverse floaters which are more derivatives. There was also a real problem with excessive leverage.... ...not to mention Merrill Lynch's Charlie Clough & his lousy Orange Cty investment advice which cost ML an additional $400-600,000 in fines etc for their complicity in the OC debacle... Have a good week...have a feeling your job just got tougher, Henry!

To: Henry Volquardsen who wrote (241)	9/28/1998 7:14:00 AM
From: Bobby Yellin	Read Replies (1) \| Respond to of 2794

Isn't another shock in the derivative market about to happen after the Japanese come up with some resolution to their banking and pension system? Maybe first will be good news that a resolution has been reached,but then possibly a lot of bad news when possibly a huge amount of derivatives will be unwound? Am wondering how much of the liquidity in the world has been provided by the Japanese almost giving away money? When they finally come to a resolution,wouldn't the likihood be that rates would start going up? since their strategy of bailing out their system by exporting might change?