SI
SI
discoversearch

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.
Politics : Ask Michael Burke
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: yard_man who wrote (86523)12/9/2000 9:40:00 PM
From: Knighty Tin  Read Replies (3) of 132070
 
Tip, it was simple. They used very low risk derivative and options trades, also one of my pets, and margined them at 99%, not only not one of my pets, but I wouldn't visit margin in the zoo. The market moved against them for more than 1% and more than wiped out all of the equity. The Fed decided that the banks should not call in their loans and forced them to bail out LTCM, which has at least one Greenspan crony on board. The fund was able to recover enough to pay off the banks when the market ticked their way. The shareholders got screwed royally, but not to fear. The managers who thought up the brilliant super margin technique all qualified for dandy bonuses. And that is one more reason why Alan Greenspan deserves the Noballs Prize For Bubblenomics. <g>
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News