Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (75209)	3/4/2001 1:33:21 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

Thanks Joan, Now to your comments, 1. all the present turmoil could had been avoided if not the FED had not bailed out LTCM in 1998, and also if the FED had acted preemptively in July of 1998 by 0.25%. 2. After stabilizing the markets the FED should had acted preemptively in January of February of 1999 but they waited for to long and then to little in summer of 1999 3. During the winter of 1999 the FED panicked and flooded the market with liquidity for no real reason except the hype induced by those working on the Y2K issues. 4. Again in January and February of 2000 the FED failed to act aggressively and to ad more sin and recklessness they did not raise the margin requirements in equity markets and wen AG was directly asked about the "BUBBLE " he refused to recognize it given more legitimation to the rampant speculation ( So AG lied in his testimony before Congress which I think is criminal). 5. During the summer of 2000, wen it was obvious that the economy is cooling off and more so in September he failed to lower interest rates for pure political reasons and not economic stability. More so he was free to do it after November 7 and still did nothing. If he FED can not recognize economic developments ahead of us simple mortals then why have them in the first place. Secondly I do not think that the FED does not get advance and more sensitive information ahead of the public and as such their failure to act accordingly is recklessness and can not be forgiven and they must be punished harshly. Most known "financial crimes are puny" versus the recent FED actions, but still the Congress is making such a BRUHAHA on Mark Rich for no real reason except political gain. ............... Congress should focus on the FED and add personal responsibility on their mistakes. The FED intervention in 1998 to benefit others of their own ilk, like the investors in LTCM is larceny on grand scale by a body owned by the regional banks and nominated by the US Administration and Congress. those are my 2 cents BWDIK Haim