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To: clochard who wrote (71001)10/22/1999 4:49:00 AM
From: KeepItSimple  Read Replies (2) | Respond to of 86076
 
>Its too big to fail.

I agree. Social Security is the biggest "too big to fail" the country has ever seen. The country simply cannot have 75% of the population over 65 roaming the streets begging for food. (remember our negative savings rate?)

And now, a huge majority of american household wealth is tied up in the stock market. If the market collapses completely, we'll have anarchy.

Greenspan has shown he will bail out IDIOTS who get in over their head in risky hedge fund fiascos, so if LTCM is considered too big to fail, of COURSE the stock market is too big to fail.

I'm about to give up being a bear. I should focus more on politics, than fundamentals. And I should also start a public company right now. Before every single human on earth does the same.