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Strategies & Market Trends : Asia Forum
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To: Robert Douglas who wrote (6740)9/26/1998 10:02:00 AM
From: Zeev Hed  Read Replies (1) of 9980
 
Robert, how do we regulate this new monster CCI/Traveler? For that matter, how do we regulate GE-Financial? The boundaries between the various financial services organization is so blurred that it becomes impossible. Insurance companies are regulated on a state by state basis, true bankers by the FED's, investment bankers by the SEC and "hedge funds" by no one. The truth is that a lot of the "normal" money center banks have become so involved with backing (and designing) derivative instruments that they are essentially hedge funds themselves.

There is a "clear and present" danger that a financial "accident" could precipitate a domino effect in the banking system. I think that AG is keeping the FED's rates where they are so that he can use this weapon to counteract such an accident if it were to occur. Essentially all pundits (24 out of 25 according to NBR) expect a reduction in the FED rates this Tuesday. I wonder if they will be proven wrong.

Zeev
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