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To: Ron McKinnon who wrote (16672)10/7/1998 3:07:00 PM
From: tom pope  Respond to of 53068
 
One difference - BRE-X had no gold. AAM has a lot of paper - the wrong kind.

BT now yielding above 8%, but I'm still on the sidelines. And people obviously don't believe Lehman's assurances about its solvency. They must be having liquidity - funding - problems. Sometimes illiquidity is worse than insolvency.