Market Manipulation by this Presidential Administration? Message Board

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Pastimes : Market Manipulation by this Presidential Administration?

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To: Henry Volquardsen who wrote (2)	9/3/1998 2:28:00 AM
From: PaulM	Read Replies (1) of 57

Richard suggested I respond to this post. Maybe I've come across as one of the "hushed voices"? Frankly, while I have no idea whether govt is jumping in or contemplating it, your bj analogy may not be a good one. Much economic intervention is protected from public scrutiny. Virtually by law (the president's sexual exploits are not). The article Richard posted (I brought it to his attention) suggested the Exchange Stabilization Fund is being used to buy S&P futures. Seems plausible enough to me since its a fund which is disbursed, by act of congress, at the Treasury Secretary's discretion. Supposed to be used to ensure stable currency exhange rates (but couldn't Rubin et al. argue the stock market is related and therefore fair game?)

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