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My understanding was LTCM held a fairly large portfolio of equities as
well - right through the slide of last year. The biggest problem for
federal banking regulators was how U.S. banks could have loaned LTCM so much
money knowing LTCM was already over-leveraged. There were apparently few
questions asked by lenders. I didn't see the PBS program, but that should
have been an important part of the program.
----- Original Message -----
From: "THE DOCTOR" <droex@xxxxxxxxxxxx>
To: "BruceB" <bruceb@xxxxxxxxxxxxx>
Cc: "Lawrence Chan" <stnahc@xxxxxxxxx>; "Omega-List" <omega-list@xxxxxxxxxx>
Sent: Wednesday, February 16, 2000 2:00 AM
Subject: Re: Trillion Dollar Bet - anyone impressed ?
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