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To: robnhood who wrote (30976)	10/24/2000 9:26:46 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

<< I think that the powers should have let that crash fullfill itself. We now have the result of intervention in that episode to still reconcile itself.>> Exactly. The crash definitely helped work the excesses out, much more quickly (and ultimately less painfully) than a drawn out bear might have, thus allowing the rapid post crash recovery we saw in '88-'90. One similarity was that much of the excess then as now was centered in high yield bonds (to finance LBO's then, to finance telco infrastructure now). Of course, that bubble was briefer less pervasive and allowed to die a quick, noisy and relatively painless death...

To: robnhood who wrote (30976)	10/24/2000 10:03:37 PM
From: pater tenebrarum	Respond to of 436258

the very same goes for the '98 BK...that was even worse from the standpoint of intervention and the long term consequences of same. i think Ice also covered on the pre-BK Friday in '87...it's a common experience, and why not? the market looked very oversold... i remember i had a client in Allegis, which was subject to a cash take-over at the time. it still fell like a rock...there was NO safe haven at all.