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To: Dragon 1 who wrote (54193)	9/29/1998 4:39:00 AM
From: Moominoid	Respond to of 58727

It's called a depression..... Can it happen, yes, will it happen, don't know.

To: Dragon 1 who wrote (54193)	9/29/1998 5:24:00 AM
From: Elroy Jetson	Respond to of 58727

I'm not familiar with Providian PVN, but COF Capital One Financial is a credit card issuer in the US and Europe, especially secured credit cards. Their exposure to a recession might be moderate, but their exposure to a hedge fund credit crunch would be peripheral at most - perhaps they sold collateralized Visa receivables to Hedge Funds - no risk there to COF. Could Lehman, Bankers Trust, Citibank et al trade lower? Of course! How many other moronic loans did they make? A friend who works with a Japanese bank told me they wanted to lend to LTCM but couldn't get in on it! At some point they will surely trade below intrinsic value, but I'm not sure even the officers of these banks know what that is right now.