SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Bill Murphy who wrote (26564)1/20/1999 7:57:00 PM
From: PaulM  Read Replies (1) of 116759
 
Bill, my first thought after the bailout-consortium was put together was just that: markets would be manipulated from this point on.

The Fed admitted as much, though the label wasn't used at the time. But the explicit intent was always to ensure that one of the consortium--which just happened to comprise the entire American financial community--didn't take a position contra LTCM. That meant each member could not take advantage of its knowledge of LTCM's position for its own benefit. Or in other words, collusion. It also meant knowing the positions of the rest of the consortium vis a vis LTCM.

Of course, from the Fed's perspective, the alternative was financial collapse.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News