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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (922)	10/21/1998 11:16:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 3536

Robert, Do you follow this newsletter? The Skeptical Investor chebucto.ns.ca Intelligent, well written and an unusual sense of the financial conditions. Often correct but in broad manners. I chuckled my way through your desciption....well done. Here in Boston we have our own brand of bankers and they provided us with rather sobering entertainment back in late '78 into '82. Bank runs -- collapsed lending -- mergers and of course new regulation. Saw my first bank run - complete with working people lined up at glass doors with anxious eyes and intense anger....my local bank was sold 3 times in 2 years. All I keep there now is checking money, it was unpleasant. Found just one small bank in all of northern New England with AAA ratings. Way out in the country side......Not many of those around. Most banks are a BB+ and C....very few are above A+ Most folks could just tell that a mania had over taken the bankers and developers. But caution and greed don't mix...and the people did not know how it would end as it did in '87. It appears to be setting up to happen all over again.....regular folks already can feel the same sweat break out as they look up at all the cranes in the sky-line. But Boston is now the 2nd largest money management center in the US and with Fidelity et-all there is another misplaced sense that nothing can stop the progress. Super Heros. A friend runs a portfolio for Bank Boston of low yielding and low risk loans to hospitals and non-profit agencies. He has been under constant pressure to raise the level of his yield and they are forcing him too seek riskier clients. I suggested he hold his ground for another year....soon they maybe all to happy with any solid money coming into the coffers. Chip