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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Chip McVickar who wrote (926)	10/22/1998 1:03:00 PM
From: Henry Volquardsen	Read Replies (1) of 3536

Hi Chip, you were right, that site was good for a chuckle. Third and fourth hand would be a charitable description of what this guy is claiming. I suspect that if he is even close to being right it is in much the same manner as a broken clock is right twice a day. I've been hearing rumblings about big banks being in trouble for a while now. And one or two do appear to be breathing a little hard. But if there was a major failure about to occur we would see more signs of it in the repo and short term funding markets and we just aren't. In twenty years I've seen a number of banks get into serious trouble and you can always figure out who the bad apple in the market is long before the problems become public. We are not seeing the signs. That is not to say it isn't happening just that it would be the first time it would be this well concealed. As far as Greenspan's actions I believe he was more concerned about a developing credit crunch and was acting to prevent that. There were clear signs of the system locking up. Henry

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