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To: long-gone who wrote (21930)10/19/1998 10:54:00 AM
From: Richard Mazzarella  Read Replies (3) | Respond to of 116762
 
Richard, <<lie this morning>> How about the pronouncements that the stock market is now safe for everyone to get into going higher? <VBG>

Many people blame the 29 crash on lack of liquidity because of margin requirements which only required 10% real money. Today we have higher margin requirements for common, but people don't seem to have the faintest idea of the borrowed money that's in the hedge funds and security derivatives which nobody understands. If the smart Nobel laureates don't understand, who does? Maybe there's still many a house of cards ready to fall? IMO don't sell your "gold" just yet. <VBG>



To: long-gone who wrote (21930)10/19/1998 11:44:00 AM
From: Edmund Lee  Read Replies (1) | Respond to of 116762
 
Banks and properties in Hong Kong.
Resale properties in Hong Kong had fallen 60% since last year. Most property owners have negative asset now. 10,000 property owner were not able to pay their mortgage. It is estimated that 100,000 properties is now in negative asset. Smaller banks is under pressure and considering merger with larger banks.
The same case with Japanese banks. Many US banks have exposures in mortgage loans in Hong Kong.


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