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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: John Curtis who wrote (4376)10/8/1998 3:03:00 PM
From: webpilot  Read Replies (1) of 27311
 
John,

What the article tells me is that the FED cannot lower interest rates because of the hedge funds positions. The FED stated that they want to unwind the transactions profitably. Fat chance, and zero chance if the Fed were to lower interest rates. The bankers behind the funds would get destroyed.

We will be in this situation for a while. M/L and the bankers don't want to become insolvent, although it could happen.

Thanks for publishing the article.
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