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It's not 'who' you know, its how much you lose. If any of us were to have
over $ 80 billion in derivative trades going in the tank - with only $ 600M
to cover margin calls, as the Noble Prize winning team at LTCM was faced
with; Sir Al would also want to keep the impending doom from spreading in
the capital markets.
I guess its equivalent to have $ 80 billion in live cattle futures, covered
by $ 600m in margin (133:1 leverage) with an outbreak of mad cow just
announced. Not what daver would ask Santa for XMAS!.
-----Original Message-----
From: Wyatt [mailto:wparkinson@xxxxxxxxxx]
Sent: Sunday, December 07, 2003 5:48 PM
To: omega-list@xxxxxxxxxx
Subject: RE: Who is afraid let their systems
Aren't these also the same guys that Greenspan helped bail out by
manipulating the market with a "surprise" Fed meeting? It's not what you
know that'll make money... it's who you know.
>
> Long Term Capital Management...
>
> Aren't they the people who went belly up, loosing BILLIONS, by using Black
> Scholls option models???
>
Well Yeah. Trillions, actually.
Someone shudda said " Uh,.. we've lost $250 billion. Is that too much ?"
donc
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