Forum Archive Index - June 2002

[Marilyn Munroe <who.c@res.co.nz>]

Steven Tong wrote;

"There will BE NO RECOVERY IN US EQUITIES THIS YEAR"

I recall another stumble of the U S economy. I refer to the savings & loan 
fiasco.

A rash of unwise lending by small community banks called savings & loan banks 
had threatened a bust the amounting to what looked like several telephone 
numbers strung together.

The U S congress took over these banks and ruthlessly liquidated them. Thanks 
to an economic recovery they were able to sell off these assets. I cannot 
recall exactly, but the net result was a small gain or loss for the U S 
taxpayer.

My point is that the U S was able to take decisive corrective action to 
ensure stability and recover.

If there is a melt down on Wall Street I guess we will see the same thing.

The DOW @ 20,000 in 2006?

Boop-doop-de-do Marilyn

Short on diamonds, long on optimism


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