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To: JRI who wrote (10602)	2/21/2001 4:25:55 PM
From: Raymond Duray	Respond to of 13572

Rant on, brother JRI, To say that the biggest crooks in the country exist in the wire houses of Wall Street is to state what to me has become completely obvious in my years trying to stay ahead of "the system". There are a myriad of ways that the financiers have figured out on how to fleece to unsuspecting. One of the really chilling books I've read lately was Frank Partnoy's "F.I.A.S.C.O." Concerning the DTG at MSDW. That being the Derivatives Trading Group at Morgan, Stanley. Written about Partnoy's term there in the mid-'90's, it describes one episode where a satisfied derivatives salesman has just gotten off the phone with one of his "customers", a hapless treasurer at a Midwestern insurance company. The conversation went something like this: Treasurer: "What do you mean I was betting on the direction of the Thai baht:Yen exchange? I was buying hedge on my forex exposure from the dollar." Salesman: "Look at the paragraph on page 7 of the offer that describes what tranche of our overall Dollar:Baht:Yen exchange you purchased...." Salesman later to Parnoy: "I ripped (the customer's) face off." Partnoy: "How'd you do that?" Salesman: Gestures with a grab to his throat and a yank toward the heavens......... Nice guys. Who put a hell of a lot more money into the politicians than the general public does with very good effect: nytimes.com The game is getting rigged again, just as it was in the 1920's. Undoubtedly, we should expect the same results. Best, Ray :)

To: JRI who wrote (10602)	2/21/2001 4:47:55 PM
From: stockman_scott	Read Replies (1) \| Respond to of 13572

JRI: Here's an interesting post on Greenspeak and the CPI: messages.yahoo.com Best Regards, Scott BTW, I agree with you about going after (exposing) The Houses --> they have manipulated this market so much its not even funny. Most of them have slowly covered their targeted short positions on all the high flying tech stocks, they are under quiet accumulation now, soon we'll see the UPgrade cycle...they are so predictable. Yet, the average retail investor or naive Fund Manager gets hosed by the Houses. Oh well....I guess there's enough evidence out there to keep 60 Minutes busy for a month long series on the UNethical behaviors of many of the ANALysts and Investment Firms...JMHO....=)