My gut feeling is that it isn't the criminally bad books of a few firms (small beans on a national scale), it isn't ripples from the t-com bubble collapse (bubble? essentially no flat rate home internet service in Europe, thanks to the European t-com providers) -

Nope, my guess is that it is the Moslem economic boycott - in which they sell us all the oil we want, but spend that money elsewhere -

My other guess is that they are also shifting out of US assets as well - but I don't know their holdings, and have no numbers on them - how long and how low; how intense the secondary investor stampede?; how great the secondary economic effects due to financial tightening?

You have got to remember that as usual, no one is reporting this - instead we get an attack on Bush Jr, who after all had the nerve to suggest that the Palestinians should have their own state - weaken the President, delay, and expand the settlements - the usual strategy

just some guesses, but...

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