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To: Defrocked who wrote (14378)	7/10/1998 7:08:00 PM
From: robnhood	Respond to of 116753

WOW,,, DR Def,, in one swoop you changed my viewpoint.... Pretty Laissez faire , but for those boys it ought to be.. Then there is the RTC,, and we pay.. Why would it be any different in the future?... Crisis = nail the tax payer, not = the players pay the price... russell

To: Defrocked who wrote (14378)	7/10/1998 7:47:00 PM
From: IngotWeTrust	Read Replies (3) \| Respond to of 116753

Spoken like a true egghead PhD of Finance. Sheesh! I AM a derivs player. I know I'm laying the risk off on someone else willing to "take it" or else I wouldn't have laid it off in the first place. To blame Orange County debacle 100% on the dumb cty treasurer who couldn't rub two county nickels together to pay for his open deriv positions, and for Merrill Lynch writing firm who "called" his deriv hand,--to which they just ante'd up either $400 or 600 million in payback just this spring, is to undercut every rosy scenario you just painted of the pure as the driven snowderivs writer OR buyers. No wonder you sign your name Defrocked. What a crock! Opps, that was a misspelling. What a crook! Derivatives based on derivatives based on derivatives based on derivatives is just a 80s/90s version of "when the music stops..." And stop it will. Then we'll finally hear the yeowling... from both the ones who took the risk screaming unfair, and the derivatives writer who will plead "innocent louse." If you're going to talk about derivs from something besides a virtual reality/fantasy options parallel world, at least bother to make up something more palatable. There isn't enough catsup in the world to make what you just wrote swallowable!! Of course the Fed Res. and BillyRubin don't want CFTC "newbie" to bring the house of cards down. Besides, what are they afraid of? Everyone who doesn't know that Rubin and GreenExpand are up to their baldspots in the markets themselves for personal gain BTW, are just to green to worry about. Talk about a mouse scaring the elephant. Just because the "good ole boy past CFTC chair" was willing to look the other way doesn't make abstract derivs with NO basis in physicals right or riskless. I won't even deal with the fact that more than one "little lady" has brought the spend-thrift irresponsible male up short on a reality check. I say more power to her and others like her...all over thew world. *Ole "calling a spade a spade" 49r* PS...I suppose you're also an owner of a fantasy baseball Jr. Griffey deriv???

To: Defrocked who wrote (14378)	7/10/1998 7:52:00 PM
From: robnhood	Respond to of 116753

Def, said a different way,, << The public is going to wake up some day in the poor house and those so called sophisticated bankers will have vanished. Jim>> Message 5160460 I'm vascillating, but I don't think making rules will change the above result anyway... russell

To: Defrocked who wrote (14378)	7/10/1998 8:08:00 PM
From: C Hudson	Respond to of 116753

Derivatives not affecting markets? What about triple witching day? I'm no expert on markets but it seems to me derivatives will be what will ultimately send markets into a tail spin.

To: Defrocked who wrote (14378)	7/10/1998 10:25:00 PM
From: Cynic 2005	Respond to of 116753

Dr. Dee, great note! Quite educational. -MMV