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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (20603)	6/30/2002 6:59:04 AM
From: Moominoid	Respond to of 74559

I just got back from beautiful Bateman's Bay :) I saw my friend Chris' house now it is complete - facing a reserve and the ocean on a small cliff top. Huge wrap around desk, high ceilings in the huge living room, weird nooks and crannies including a room above the living room in the roof for whale watching. Original property cost $A125k. Some "archeological remnants" exist in the new house on the lower floor. House cost about $A300k to build. Anyway, now he's packing up and moving to Brisbane for at least 2 1/2 years and renting the upstairs portion out. Bottom forms an apartment where he and partner Eva and her son have been living. Today was very nice and pleasant for sitting in the sun on the deck given it was a mid-Winter day... Unfortunately I have to move to New York. In any case the temperature back up here in Canberra is forecast at -5C tonight (600m above sea level and 100 miles inland). David

To: TobagoJack who wrote (20603)	6/30/2002 1:03:25 PM
From: Bocor	Respond to of 74559

FYI... >>Could it be the work of the much talked about, but never seen, Plunge-Protection Team? It is reputed to consist of Fed chairman Alan Greenspan, the US Treasury Secretary, and select insider Wall Street brokerages, including Goldman Sachs and Merrill Lynch along with bankers like Citigroup.>> DATE: 03-18-88 31 -- Money and Finance Working Group on Financial Markets By virtue of the authority vested in me as President by the Constitution and laws of the United States of America, and in order to establish a Working Group on Financial Markets, it is hereby ordered as follows: Section 1. Establishment. (a) There is hereby established a Working Group on Financial Markets (Working Group). The Working Group shall be composed of: (1) the Secretary of the Treasury, or his designee; (2) the Chairman of the Board of Governors of the Federal Reserve System, or his designee; (3) the Chairman of the Securities and Exchange Commission, or his designee; and (4) the Chairman of the Commodity Futures Trading Commission, or her designee. (b) The Secretary of the Treasury, or his designee, shall be the Chairman of the Working Group. Sec. 2. Purposes and Functions. (a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider: (1) the major issues raised by the numerous studies on the events in the financial markets surrounding October 19, 1987, and any of those recommendations that have the potential to achieve the goals noted above; and (2) the actions, including governmental actions under existing laws and regulations (such as policy coordination and contingency planning), that are appropriate to carry out these recommendations. (b) The Working Group shall consult, as appropriate, with representatives of the various exchanges, clearinghouses, self-regulatory bodies, and with major market participants to determine private sector solutions wherever possible. (c) The Working Group shall report to the President initially within 60 days (and periodically thereafter) on its progress and, if appropriate, its views on any recommended legislative changes. Sec. 3. Administration. (a) The heads of Executive departments, agencies, and independent instrumentalities shall, to the extent permitted by law, provide the Working Group such information as it may require for the purpose of carrying out this Order. (b) Members of the Working Group shall serve without additional compensation for their work on the Working Group. (c) To the extent permitted by law and subject to the availability of funds therefor, the Department of the Treasury shall provide the Working Group with such administrative and support services as may be necessary for the performance of its functions. The provisions of Executive Order 12631 of Mar. 18, 1988, appear at 53 FR 9421, 3 CFR, 1988 Comp., p. 559, unless otherwise noted.

To: TobagoJack who wrote (20603)	6/30/2002 3:52:43 PM
From: marek_wojna	Read Replies (2) \| Respond to of 74559

<<The paper said Washington strategy was to use investment funds and broking subsidiaries to block short selling by speculators.>> Hi Jay, if such strategy exists I don't know how long it can hold on. IMO primary sellers in the market now would be foreigners, and investors who have too big chunks to drop them without causing meltdowns. Banks might be different story - some of them will just start to report second quarter earnings and was in their best interest not to have bunch of underperforming assets on hand as of June 30. WCOM will cause enough headache for many of them. Should they be so stupid to participate in another delay of execution giving the chance for others to unload? Another possibility is Fed. simply printing and buying without disclosing it anywhere, waiting for the better times. I really don't know of the body who can make the audit on them. I guess we'll know soon, but after Wednesday sure lots of people have their doubts about "free" markets, and AG might be on his way to kill the chick who brings the golden eggs.