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Strategies & Market Trends : Asia Forum
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To: Tommaso who wrote (6025)8/30/1998 5:24:00 PM
From: Frodo Baxter  Read Replies (3) of 9980
 
Not only can the Fed buy and sell bonds and currencies, there has been a persistent rumor that the Fed bought stock index futures in the wake of the 87 crash. Can anybody provide a definitive answer?

Also, there's the conspiracy theories... There's a "holy-shit-the-world-is-going-to-end" committee made up of the heads of the Fed, the Treasury, the exchanges, and leading domestic investment banks. They usually discuss esoteric topics like the levels at which circuit breakers should be put in place. So it's possible the Fed could have bought but maintained plausible deniability.
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