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To: ratan lal who wrote (124296)	1/5/2001 1:30:50 PM
From: GVTucker	Read Replies (1) \| Respond to of 186894

ratan, RE: Then why did they come to their rescue and screw up the markets for people who were short knowing the huge problem that existed in the marketplace?? I think that the Fed's involvement in the LTCM debacle was Greenspan's biggest mistake of his tenure. The market was in the process of taking care of LTCM just fine, with little impact of overall capital markets. The unintended consequence was that the markets began to assume the myth of the Greenspan put.

To: ratan lal who wrote (124296)	1/5/2001 1:33:01 PM
From: Robert Douglas	Read Replies (2) \| Respond to of 186894

If the fed wants to be considered as a truly independant entity with no biases and favorites then they need to be TOTALLY independant and cant just pick and choose whom they want to support and screw the small investors. You ever hear the old saw that if I owe you a thousand dollars it's my problem, if I owe you $100 million it's your problem? The problem is that if the Fed had let LTC go bust, it could have had far reaching effects on the financial system of the entire world. Now maybe it would have all been fine, I wasn't terribly worried myself, but that was their call. Even if it was the wrong one, I don't think even the wildest explanation of these events can place the blame at the feet of the Fed. Sorry.