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Politics : Ask Michael Burke
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To: BGR who wrote (71712)12/10/1999 10:54:00 AM
From: epicure  Read Replies (1) of 132070
 
Don't you realize that speed and derivatives can actually make matters worse than the 20's- especially when you combine it with the fact that SOME folks trade only by computer and phone- what would they do in a real panic? They won't be able to trade- professionals will be able to get out, but the speed of a true collapse would be incredible with the new technology. Additional knowledge on the part of bankers? Didn't LTCM think they had better knowledge- that kind of thinking is hubris- and it will eventually bring you down.
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