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Politics : America Under Siege: The End of Innocence -- Ignore unavailable to you. Want to Upgrade?

To: b-witch who wrote (1848)	9/14/2001 1:21:41 PM
From: Mighty_Mezz	Respond to of 27666

From one of the brokerage house newsletters: "Some of the balance of our message this morning mirrors sentiments and statements made by leading financial executives, heads of brokerage firms, hedge funds and mutual funds. It is quite simple. The financial markets must reopen and do so with the support of the Country. Many high level executives cautioned clients about the repercussions that would come if such clients engage in any type of trading activity that hurts the markets, pressures the markets, or create imbalances. Some went as far as to say they would not permit clients to engage in program sell orders and would look negatively or refuse to take short sale orders. Many stated that such orders would not be accepted. Many urged clients to avoid such orders and hinted that those who support the markets will be considered in the most favored light. Those that seek to gain by intentionally pressuring positions will be considered in the most negative light. Some went to say that such persons could 'take their business elsewhere'. The Federal Reserve has pounded billions of fresh dollars into the economy. The Federal Reserve has modified rules to permit Companys to more aggressively buy back stock, etc. and they themselves, have considered tightening up short sale rules. The Federal government is making their point as well. We all want, need and will do whatever necessary to support this market. For many of us, it is perhaps our little part that we can do admist all the great showing of humanity. It is absolutely critical that the financial markets reopen and reopen strongly. The rescuers of the world are showing solidarity in their efforts. For many of us that could not, or did not contribute to those physical efforts, this is our opportunity to show these horrible terrorists that our financial markets are strong, and can withstand this terrible act. I am sure if you are getting this email and reading it, you are involved in the markets either as a professional or through personal investments or trading. A strong financial market will provide tremendous relief and assurances to our society that things will be fine financially. I would like to think that some worker in the 'Ground Zero' war zone, rescuing or recovering persons, risking life and limb, can continue working, knowing that his personal finances and those of his family, are safe and secure. One could justify it in placing their personal gain second, and those of these heroes and victims first. What greater sign can we as traders, brokers or investors provide to the rest of the world than to post strong numbers when the markets reopen. Many of us can't offer words more tender than have already been spoken. Perhaps we do not have the skill or strength to cut and lift iron. We do have our own abilities. I would hope that our clients and all fellow investors, for whatever amount of time they believe is appropriate, avoid doing anything to unfairly take advantage of or to hurt the financial markets. Some have argued that this is a free country, that the true sign of freedom would be ability to short sell the markets. Many discuss the possible huge potential. Perhaps this is similar to the rights one has to burn an American flag. Well, there is a time and place for that, whether one believes that should have ever been permitted. Now is clearly not the appropriate time. Compassion and humane sensitivity should dictate when it is appropriate to exercise that right. It may be more appropriate Tuesday or mid-week, but right now there are tens of thousands of persons buried alive under what used to be the heart of the world's financial markets. Families are fatherless; husbands have lost wifes; brothers' have lost sisters. There has never been a more offensive, disgusting attack on humanity. It is impossible to believe that any investor values a few 1/8 points of profit greater than the value in the representation of a strong US market. Most Americans as well as the rest of the world are nervous about the financial markets. You might lose a little money; you may miss an opportunity on a short sale. So be it. You are alive. You have an obligation to those fallen, and to the rest of the world, to show that humanity stands together against terrorism in the financial arena. Remember, we may fail in our efforts. The markets may slump. I don't see fire fighters or rescue workers walking off the job solely because they have not met with tremendous success. The effort alone will eventually yield the results we desire. The effort alone will bind us together and eventually win the day. And one day soon we will get back to talking about earnings and revenue. But for the immediate future, for the first day of trading atleast, it is our chance to show the world the US financial markets will not be dampened. We are strong. Don't mess with us. We hope our clients and other investors feel the same way." -Steven Goldman