wow, major nasdaq correction today as the outflow from mutual funds continues

big names, like msft (a req investment in seemingly all mutual funds), got hit hard

http://www.economist.com/displaystory.cfm?story_id=1234711
the trouble with telecomm

the article approximates that the banking industry has a remaining $500B exposure to telecomm

citigroup is being investigated for collusion w/ worldcom

what happens if the domino extends beyond techs->telecom, but leads into banking as well?