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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Yorikke who wrote (4640)	9/20/2001 10:35:31 PM
From: John Pitera	Respond to of 33421

Mike, a good post, and I agree with you that the "era of good feelings" has passed on. i believe one of the major 'weaknesses' in the market has been that we DID see a major hedge fund go belly up a couple of years back and the fed moved to lessen the impact of that failure I feel you're right about that and that was a theme that Treasury Sect O'Neill initially mentioned last winter that the US Govt should not eliminate risks for large investors every time an institution or country is threatened with economic crisis or bankruptcy. It has been said by several that the US created a Disaster Put for Large Investors by repeated US Govt bail outs in the 1990's. I just was pointing out that we saw the collapse of Penn Sq, Drysdale, EF Hutton, Long Term Capital Management etc in financial panics of years past. John