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To: DukeCrow who wrote (71441)	3/7/2001 11:31:18 AM
From: Dennis O'Bell	Read Replies (2) \| Respond to of 99985

Wasn't LTCM a private bail-out? Now that you mention it, I wrote that without even thinking... The rap that was going around was that the Fed had pumped liquidity to ward off this failure possibly tanking the economy, and that this behavior on their part was a "moral hazard". What I said is all the more stupid that I'd read the messages on the Hedge Fund thread pertaining to LTCM when they were posted in December: Message 15091996 Even a fool can appear wise if he holds his tongue. But while I don't think encouraging risky behavior is a good idea, I do think they do what they can get away with regarding collecting taxes.