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To: ahhaha who wrote (11153)	6/13/1999 1:04:00 AM
From: Raymond Duray	Respond to of 29970

Hi ahhaha, OT: October 19, 1987 I believe the Gordon Gecko character was fashioned after Ivan Boesky, with a little Icahn and Perelman thrown in for good measure. You are 100% correct in your assessment of the cause of the '87 crash. In a panic, all the fast players race each other to the exits. The sell programs exacerbated this to the extent that it could not be controlled. One of the weaknesses of the market system, as pointed out by Keynes, is that whereas an individual in crisis may seek the solace of liquidity, society in general cannot liquidate in panic without the whole house of cards collapsing. Just one of the risks we have to live with. Best, Ry