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Pastimes : Ask Mohan about the Market

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To: Carl R. who wrote (16934)	11/1/1998 9:07:00 PM
From: Enigma	Read Replies (1) of 18056

I'm not sure if this isn't a semantic difference? I'm no expert on the law, especially in the States, but bankruptcy protection (I have read elsewhere) could have meant an orderly proceedure with the Fed intervening in the court proceedings to ensure this end. I think this is one of the main arguments of those who are against this intervention in the dog eat dog system we call capitalism! As for the lenders 'helping themselves' (well maybe they did that too - having a good peek at what was there - no chinese walls possible) they were clearly not about to do it, or able to, without the NY Fed knocking heads. E

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