Winstar Comm. (WCII) 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.

Technology Stocks : Winstar Comm. (WCII)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bernard Levy who wrote (11930)	5/20/2000 1:55:00 PM
From: JMD	Read Replies (1) of 12468

Hi Bernard, I am bewildered not to have see more (any?) discussion in the press/Congress at the FOMC's explicit attack on stock market valuation levels. Unless I was asleep during the better part of my undergraduate/graduate economics classes, the Fed has zero legal authority to deal with the stock market, a privilege reserved for the SEC. Like you, I have little doubt that the cumulative effect of interest rate increases will materially decrease economic activity. One more, and I think that a recession is inevitable. But I am not resurfacing the old "interest rates are a crude meat axe to deal with the economy" debate, as much as I am astounded that the Fed seems suddenly to have assumed that it's O.K. for them throw the axe at the market. [And if somehow it is suddenly O.K., then for god's sake, jack up margin requirements and ELIMINATE margin as an option for IPOs if the intent is to take the steam out of a market judged to be 'too high'.] That however begs the question. Have you seen anyone else raising this issue? best regards, mike doyle

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next