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Strategies & Market Trends : Asia Forum
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To: Bosco who wrote (7771)12/29/1998 8:07:00 PM
From: Stitch  Read Replies (1) of 9980
 
Bosco;

Many thanks for that article and the "insiders" viewpoint it offers up. With every article about LTCM that I read, a feeling grows in me that amounts to incredulity that the markets have survived LTCM's near collapse so well. I frankly have difficulty forming an opinion as to whether Corzine, and all the others in the group of banks, are heroes or rascals. These are rarefied circles indeed and a glimpse into them by us mere mortals is fascinating and confusing at the same time. Did they save the world? I don't know but one thing I do know. That is that the whole sorry saga of LTCM has certainly taken the punch out of the free market sloganeering that has been fired at this part of the world in salvo after salvo, often with accompanying teeth in the form of IMF loan codicils and failed sovereign debt offerings. I wonder still, what the history lesson here will be.

Best,
Stitch
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