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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Investor-ex! who wrote (1580)	11/13/1997 12:47:00 AM
From: Thomas C (Hijacked)	Read Replies (1) \| Respond to of 5676

Thanks for the tip investor-ex, I will see if I can pick up a copy. I am going to have to start reading faster because this pile of books is getting to be about 2 feet high! Tom

To: Investor-ex! who wrote (1580)	11/24/1997 11:27:00 PM
From: Investor-ex!	Respond to of 5676

Millennialists, Does anyone recall, after the bailout program was proposed for our domestic S&L's in the early 90's, if the number of S&L default announcements fell, stayed about the same, or actually accelerated? It seems to me that, once the "global bailout" mentality begins to take hold, it will start to snowball, as all sorts of institutions, marginal and not so marginal, will be compelled to take advantage of may what appear to be the "last best chance" to wipe the slate clean on taxpayers' money that will materialize for quite some time. And, just to insure their place in line, these firms will be eager to declare their intent to participate on the receiving end of the bailout sooner rather than later. Of course, some external moderating input to the global financial system is in order at times like these. But I can't help but wonder if things would ever get this out of wack if only private industry and finance (who generally profess disdain for government intervention) would conduct their affairs in such a way as to never, ever expect taxpayers to coming running to minister to the wounds that those private industrial and financial institutions have inflicted upon themselves. If the global financial system has learned anything from the 80's third-world debt bailout, the S&L bailout, the peso crisis, and now this, it's that they can structure whatever over-reaching, rose-colored, nothing-can-possibly-go-wrong deals that they want, and if things don't work out, they can just walk, or worse, be paid for their "mistakes". Can anyone say cor-por-ate wel-fare? From the perspective of the individual investor, it would appear that it's not possible to entirely avoid the excesses of a global investment bubble. Even if one is prudent enough to forego direct investment in the inflated, risky ventures at the end of a grossly speculative phase, one is forced to pick up the pieces by way of the tax dollars required to fund and administer the bailout. And you should be grateful to be able to provide those tax dollars because that would imply you still have a job! There must be a better way.