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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (24341)10/29/1997 12:38:00 PM
From: yard_man  Respond to of 132070
 
I agree -- such a proposition seems rather far-fetched to me, too.



To: Sam Citron who wrote (24341)10/29/1997 12:50:00 PM
From: Joss  Read Replies (1) | Respond to of 132070
 
Hi Sam,

I have no position on the "Fed Buying" theory and am not an expert on the fed. That said, I also don't know what the limits are on the actions of the fed. Do you have a link to the document that delineates the authority of the fed? If not, can you give me a reference to substantiate your comment?

<<No rational person believes the Fed bought stock index futures yesterday. They have no such authority (express or implied).>>

Thanks,

Steve



To: Sam Citron who wrote (24341)10/29/1997 1:50:00 PM
From: Mike M2  Read Replies (1) | Respond to of 132070
 
Sam, about Fed intervention through the futures mkt why not look up the article written by Fed governnor Heller WSJ 10/27/89 and see what he had to say. I have not given the matter much thought but it would not surprise me. When I get the time I will look up the article on microfilm/fiche with the help of my friendly librarian. Does anyone know if WSJ has archives on the net? Mike


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