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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (84618)3/23/2001 11:15:57 AM
From: Don Lloyd  Read Replies (1) of 436258
 
hb -

mises.org

"...Under the Investment Company Act, the SEC is authorized to suspend the redemption obligation. In typical government "newspeak," the SEC may suspend payment in order "to protect mutual fund shareholders." It protected them by denying redemption in 1963 when President Kennedy was assassinated, in 1977 when New York City suffered a power blackout, in 1986 when the municipal market broke, in 1987 when the Hong Kong Stock Exchange closed, and in 1990 when lower Manhattan suffered a power failure. Surely there will be more suspensions. "

Regards, Don
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