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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.47

+0.5%

Nov 6 4:00 PM EST

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To: Bill Grant who wrote (20288)	10/1/1998 3:55:00 PM
From: Alex	Read Replies (3) of 116752

Thanks Bill. I just don't buy it. The entire commodity sector has been reeling in a bear market that has dragged their share prices down from 70 - 95%. This is occurring on a global basis and destroying companies and economies left, right, and center. All the while, the fed had a tightening bias. What a joke. Greenspan, to this day, is opposed to regulation of these funds. The claim is made that they are already regulated, in a sense, by regulating the banks that loan to them. Why was this fund then allowed to borrow so much from 'taxpayer-insured' banks? Could it be that it's because they took the same position as Citicorp is now taking, and where is the regulation and transparency here?????????? A spokesman for the No. 2 U.S. bank, Citicorp told Reuters it had no plans to disclose its hedge fund exposure at this time. Securities firms as a matter of policy have historically declined to outline loans to any one client, including hedge funds. dailynews.yahoo.com

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