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Pastimes : Ask Mohan about the Market
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To: John Hunt who wrote (14870)3/15/1998 9:28:00 PM
From: Tommaso  Read Replies (1) of 18056
 
I do think readers of your link--

washingtonpost.com.

should note that nowhere is it suggested that the government has any intention of getting into puts and calls on the indices--or any other kinds of derivative.

I don't think that even the broadest interpretations of the authority of the Federal Reserve could permit this. (An understatement, in my view.)

Possibly the strongest argument against rumors of such intervention is that there has been no crisis in which any such interventnion has occurred. As numerous other people have said, however, there may be a widespread belief that there are government guarantees that the markt will not be allowed to crash. The actual mechanism for keeping the market up seems the continued deposit of new money into mutual funds.
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