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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Simba who wrote (233804)4/6/2003 9:44:18 AM
From: Oblomov  Read Replies (1) of 436258
 
>>In fact LTCM fiasco could have crashed the economy.

Probably not, but it would have put several hedge funds and a couple of bulge bracket IBs out of business, and that wouldn't have been a bad thing. It might have even prevented the last phase of the bubble from ever happening. -ng-

I agree with your main point, though. Governments will intervene in markets if they perceive it in their interest to do so. September 11 was a good case for government intervention, since the major counterparties to repos had had their offices and systems destroyed. But as a matter of course, the government will only make things worse, IMO.
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