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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Cynic 2005 who wrote (10543)11/6/1998 6:33:00 PM
From: Joseph G.  Read Replies (1) of 86076
 
MM5,

Easy Al has disgraced himself, I guess he just panicked and jumped too fast (most likely under direct and indirect political pressure due to then coming elections, and Slickster crimes and misdemeaners).

I say that cause there was no news of failures this time (in US), there were alleged "near misses", but he must've waited till some weak small and medium players went bust (like Neidelghopher whatever his name guy went last year), cause otherwise there is no lesson, he only created a lot of moral hazard, and can't point to anything tangible to justify his actions. All that BS of spreads increasing - so what? T-rates went down too fast - that's the fact, highly leveraged players got squeezed, which is none of his business.
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