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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Tradelite who wrote (9118)9/14/2001 11:18:57 AM
From: tradermike_1999  Read Replies (1) of 74559
 
I think an at attempt to rig the stock market will do harm than good and will ultimately benefit Wall Street more then it will the rest of the country. The goal of the SEC and FED should be to make sure that trading resumes in an orderly fashion on Monday. If the markets fall so be it. It will bottom out. If they rig the market there are three basic problems:

1)potential for failure. They could just make a worse disaster. What if the market rallies on a manufactured rally, the big money uses it as just another selling opportunity, and then the market makes a new low? This has been the pattern so far this year with interest rate cuts, why will it change now?
2)it is unfair. The SEC has said he is going to lift rules for large players that will give them an unfair advantage.
3)it has possible consequences for the rest of the economy. It would be basically a bail out of big money investors. Greenspan did this in 1998 by lowering interest rates. He created an imbalanced economy as a result. If lowers rates with the goal of bailing people out next week he will cause the dollar to drop, make gold rise, and create inflation. HE will then have to raise rates later. See some people on Wall STreet will have gotten out at higher prices, but the economic recovery will be pushed back even further. The goal of the government should be to repair and rebuild our national economy. Not bail out Wall Street bastards.
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