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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: gambler who wrote (34387)	10/22/1998 6:18:00 PM
From: yard_man	Respond to of 132070

People are flipping around now more than ever without a clue. Tragic, isn't it? <g> Wow, gambler -- you found a back within 9% of its high. These guys must have no exposure to derivatives.

To: gambler who wrote (34387)	10/23/1998 12:03:00 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

Gambler, That was exactly what I meant when people talk about "the kitchen sink" syndrome. CNBS and its butt boy, The Street.Com, are pushing the worst is over scenario and eps are ancient history and all that garbage for financials. I seriously believe that companies like BT do not even know what risk they are really taking, so they can't write it all off at once. They are trying, but it is like cleaning out the stables at the race track. Tomorrow there is more crap to get rid of. Remember, they are trading almost exactly the same way LTC was trading, with less margin, so they are still looking at widening spreads eating their assets, no matter how many writeoffs they take. The simple fact is, people wanted to buy and there was no real reasoning behind it. AG handed out cash and the speculators are burning holes in their pockets. Expect a lot more LongTerm Credits from this doofus rate cut. And BT will be on the hook for a lot of them. MB