There were some 600 friggin messages since I last logged in. DO you expect me read all that GFY crap? -g- Here is some thig I want you to go tell Mr. Booger on the MB thread:
Ask him to get a copy of Washington Post article by reporter Brent Fromson gave a hint of this in an article entitled, "The Plunge Protection Team", written Feb. 23, 1997. I know most of the charter members of the Ask Mohan... roots have read this article. Besides, our walking stock market encyclopedea - Joseph G. even cited the Federal register number in which the charter of President's Committee on Financial markets was detailed.
In it, he described the formation of a Working Group (the "Plunge Protection Team"), comprised of the secretary of the Treasury, and the chairmen of the Federal Reserve Board, the Securities and Exchange Commission and the Commodity Futures Trading Commission respectively. In addition to the permanent members, the head of the President's National Economic Council, the chairman of his Council of Economic Advisers, the comptroller of the currency and the president of the New York Federal Reserve frequently attend these sessions, according to Fromson. The Working Group's main goal has been "to keep the markets operating in the event of a sudden, stomach-churning plunge in stock prices--and to prevent a panicky run on banks, brokerage firms and mutual funds", according to Fromson, in effect institutionalising the proposal set out by Heller eight years earlier.
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