1.   Beyond weak public stock valuations and anemic demand for IPOs, a more serious problem may be lurking.

2.   A report by the International Monetary Fund suggests more problems are lurking.

3.   But problems were lurking in the form of dollar-denominated loans made to Asian countries with faltering currencies.

4.   Problems may be lurking on that front.

5.   Problems lurk, however.

6.   But problems lurk, one being ineffective management control of the lending function.