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Pastimes : Wall Street II - seems everything else has a sequel

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To: QuietWon who wrote ()	3/15/1999 1:38:00 AM
From: BillCh	of 3

skip #9 - who cares about the old investment houses anymore! what about the stock touts? they're thriving on the internet and breaking all sorts of SEC rules probably, but noone polices cyberspace there are comic elements like the french trader who bought billions of govt bonds accidentally, leaning on the F12 key there are no-go areas, the existence of which we can neither confirm nor deny: - the holding company in the channel islands (FIMICO) that holds 60% of the REAL reserves of the Russian govt, the reserves they don't want the IMF to know about. Maybe that's what happened to the US Social Security trust fund? - the room with the sign AUTHORISED PERSONNEL ONLY which all the wires go into. Couldn't be part of some EGMONT financial intelligence system that eavesdops on all traffic? - the hedge funds that lose so many billions of dollars the Feds have to bail them out, then let keep right on trading. As they say , "if you lose a little money you're bankrupt. If you lose a lot of money you're given a seat on the board." I wonder also wonder about the ratings agencies like Moody's. Presumably they're squeaky clean, like the Olympics Committee - but we now know how the real IOC operates, with bizarre gifts like a herd of yaks flown to Mongolia in return for Mongolia's not voting for China's 2000 Olympics bid. What happens when the stakes are raised to the credit rating of a Savings & Loan for example? Who's to track insider trading on the internet when someone can have 1000s of anonymous personae? Someone has already tried to patent an algorithm for coordinating remote entities without being detected by the authorities. Imagine what else is out there!

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