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

To: yard_man who wrote (123947)	9/19/2001 5:39:59 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

no, was just checking.. the myth remains a myth.. LOL

To: yard_man who wrote (123947)	9/19/2001 6:47:53 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

Wednesday September 19, 11:54 am Eastern Time Soros says shorting market not unpatriotic (UPDATE: Recasts throughout) By Nick Edwards HONG KONG, Sept 19 (Reuters) - International financier George Soros said on Wednesday that taking short positions in financial markets in the wake of terror attacks against the United States was not unpatriotic and helped them reach appropriate levels. ADVERTISEMENT ``I'm at a loss to understand what is unpatriotic about it,'' Soros said after a speech to the Asia Society in Hong Kong. ``It probably helps the market to reach whatever level it is going to go to. Even if it overshoots it can rebound,'' he said. Politicians in the United States have called on investors, shocked by the devastation of last week's air attacks which destroyed New York's World Trade Centre and paralysed financial markets for days, to undertake patriotic buying to prevent a free-fall in stock market prices. Soros declined to say whether he had been selling short -- taking a position in anticipation of a fall in the market -- but said the tragedy had not resulted in a shift in trading strategy. ``No, it merely means an acceleration of things in progress and, therefore, didn't really require any changes to (investment) positions,'' he told a news conference after giving his speech. His comments come as economists ponder the prospects of a global recession in the wake of attacks in Washington and New York on September 11 that may have killed more than 5,000 people. The billionaire investor also said that Osama bin Laden, the prime suspect in last week's attacks in the United States by suicide hijackers, should be hunted down. ``We need to hunt down bin Laden and resist international terrorism,'' Soros said in his speech to the Asia Society. He also said the world should take constructive steps to alleviate social ills. ``Improving social conditions will not prevent people like bin Laden from exercising their evil genius but it will help to alleviate the grievances on which extremism of all kinds feeds,'' Soros said. Soros was speaking as he released a draft report on globalisation and said: ``We must match the war on terrorism with constructive steps to improve the world in which we live.'' In the report, he called for an overhaul of global financial institutions to boost spending on aid and development assistance and to balance the power of bodies like the WTO. Alleviating inequality in the global financial system would reduce the fertile ground available to nurture extremism and organised terror groups, Soros said.