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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (49133)	7/12/2001 9:27:03 PM
From: Ian@SI	Read Replies (1) \| Respond to of 70976

Ray, I believe my impressions have come from readings primarily in the WSJ and Barron's - most probably from the latter. Given that Russia was and is still an insignificant part of the world economy, I suspect that the inappropriate bets made by "counterparties" (hedge funds and financial institutions) grossly aggravated any damage that Russia could have done on its own. Had Merriwether et al not been copied; and had they stuck with a more reasonable amount of leverage, it's conceivable that they could have taken lots of nickles for a very long time. My impression is that the combined effect of everybody going after the same nickle irrevocably changed the system. I could be wrong. I've never won a Nobel prize in Economics. ... or any other discipline for that matter. :-) Ian