G'day all - dear Tom, thanks for sharing with us John Crudele's [is this a pen name, I mean, gosh, with a name like this, NYP certainly deserves its place among its peers <vbg>] article from New York Post.
Well, there we have it, Kenny Starr's production and HK financial health can be spoken in the same breath!
Speaking of rigging the market, sure, SEC is doing it. Think of those side car triggers and all! The point is that between 2 extremes there is a great middle. Writers like to dramatize the all or nothing scenario; however, common sense has told us [see, no technical jargon <G>] that HKMA action, while out of the ordinary, is a lot more free market driven [it bought the stocks, index and future contracts on open market, did it not?] when compared to the Malaysia's isolationist policy. On PBS News Hour last Fri, two commentators mentioned about the action of Argentina and Columbia who have tried to control the fund flow before this sort of hair-today-gone-tomorrow money wreck havoc to their respective economies [sorry, can't find it online.]
So, in the end, while QF and Tiger complained bitterly about HKMA, the latter would be seen as plain stupid not to defend itself.
best, Bosco |
