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To: John Hunt who wrote (14873)	3/15/1998 10:11:00 PM
From: John Hunt	Read Replies (2) of 18056

Re-post Article How IBM And The Futures Market Saved The Day For The DOW 206.15.118.165 Here is the NY Post article speculating on intervention by the Plunge Protection Team using the futures market. << We also know that in 1989 former Federal Reserve governor Robert Heller proposed precisely what should be done in the event of another market collapse. Heller, who left the Fed just months before making his thoughts known, suggested rigging the markets through the massive purchase of stock index futures contracts. "Instead of flooding the entire economy with liquidity, and thereby increasing the danger of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thus stabilizing the market as a whole," wrote Heller in an op-ed piece in the Oct. 27, 1989 Wall Street Journal. These derivatives can be purchased cheaply and they tend to pull up the cash market on Wall Street along with them. >> John

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