To: StockDung who wrote (80951 ) 10/10/2002 5:51:52 PM From: KZAP Read Replies (1) | Respond to of 122087 Subject: A Year From Now London, September 19 2003 (Reuters) Police used tear gas and batons to break up a mob of angry unemployed stockbrokers in the heart of the financial district as the FTSE100 slumped through the 500 mark to finish at 497.2. The brokers were demonstrating outside of the Stock Exchange building, demanding an audience with the recently elected chairman, James Fleming. When he failed to appear, the brokers began attacking the building and security staff with briefcases and what appeared to be rolled up social security forms. With unemployment in the financial services industry hovering at nearly 90%, the Government has ordered an inquiry into whether it is feasible to permanently retrain the growing army of brokers and other fallouts from the financial services industry. "It is very difficult though," said a spokesman. "It does ! not appear that they have any useful skills - legal ones anyway - which may be redirected to more productive pursuits." Brokers have become increasingly desperate as the equity market continues to slide and the war in Iraq enters its ninth month with little sign that US forces are making any progress. There was a brief 5-point rally in the market yesterday on news that Saddam Hussein had been captured, but it turned out to be another "look-alike." "We have now detained more than 300 men and 2 women who bear a striking resemblance to the Iraqi dictator," Colonel T.J. Muskrat of the 98th Rangers told a press briefing in Baghdad The oil price continues to hover at $US60/barrel as motorists began to adjust to the second week of petrol rationing. Commuters have also praised the introduction of rat-powered treadmills to tube trains. Meanwhile, many online employment web sites were inundated yesterday on news that Merrill Morgan Suisse Warburg Barney, one of the three remaining brokerages, was planning to advertise for a receptionist's assistant. Bill Pettigrew at Seekjob.com said brokers swamped his site and forced it off line for an hour. MMSWB later denied the rumour, and said they intended to continue with their recently announced program of staff cuts. Anthony Pope, a former client adviser at ABNAmroMorgans, said the news "perked him up even though I knew it couldn't be true." Yesterday's tentative market rally soon petered out and the market closed near its lows. An LSE spokesman said the reduced trading hours (10.00-10.30 am) appeared to be working well. The Nikkei descended below 100 for the second time in a fortnight, and the Bank of Japan was again the main buyer of stocks. It issued another 725 trillion yen of government bonds, with a coupon of 0.00003% per annum and! maturing when the sun finally sets on the Japanese empire.Message 18098485