Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: lee kramer who wrote (96136)	5/4/2000 1:20:00 PM
From: Lane Hall-Witt	Read Replies (1) of 120523

Lee: I'm certainly glad the Fed stepped in and helped sort out the situation with Long Term. As is the case with many of us here, I benefited big from the fact that the Fed was assertive and "saved" the market. But that episode has left Greenspan in a difficult position. He has to talk tough and say no one is too big to fail so the big players won't feel like they have free license to act without risk. At the same time, though, his record says precisely the opposite: when necessary, the Fed will in fact step in and mobilize a bailout. Under the circumstances, I think Greenspan did the best he could do. He helped create an environment wherein Long Term's positions could be unwound without undermining the global financial system. Long Term essentially went out of business. John Meriwether and his goon squad were utterly humiliated. The only people who should have gotten hurt worse were the institutions that loaned Long Term so much money that it became leveraged by several thousand percent of equity. They should have been dealt a lesson. But you can't have everything--. LOL!

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next