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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (60411)	5/24/1999 10:27:00 AM
From: ForYourEyesOnly	Read Replies (1) of 132070

From the man that will take Rubin's place: ...........In 1987, Summers wrote an Op-Ed piece for the New York Times following the October stock market crash. He summarily declared: ''In the longer term, the stock index futures market should be regulated out of existence. The futures market circumvents margin requirements by enabling investors to have effective ownership of more than $150,000 of stock while putting down only $6,500. It makes possible trading strategies like portfolio insurance that increase market volatility by creating huge selling pressure following market declines. At the same time, the futures market offers no new opportunities to stable investors seeking to invest for the long term.'' Snipped from Avid..... THC

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