To: GROUND ZERO™ who wrote (27515 ) 9/12/1998 11:41:00 AM From: James F. Hopkins Read Replies (2) | Respond to of 94695
GZ; The original reasons did look very sound, and still are, however if they are not regulated they leave the door open for all kinds of evils. Wall streets hatred for regulation is warped by a sort inbreeding from the old feudalistic system. They tend to favor a government that they can control in a hegemonic fashion. All of that is too negative to make good reading, and like trying to describe the grand canyon in a few words , it can't be done. Also this grand canyon is so full of snakes I'm sure most people would prefer to look the other way. ------------------- Index arbitrage is on the up and up, and when they introduced that it seemed that it would be a way to hedge positions, and actually smooth out the stock market. But it passed a certain point, and instead of stabilizing the market it made it more volatile. The medicine turned out to worse than the malady, as so much of was "self" prescribed & with only the special interest of the more elite circles in wall street considered. To dive into that is to open a can of worms that would produce more controversy than I'm prepared to deal with. To many people worship the sacred symbols of the Bull and Bear, just as avidly as any religious fundamentalism, and can get even more fanatic about their ideals than the former. ---------------------------- Futures and derivatives go far beyond their original intent, so many trade now in the shadows that the average person is unaware of, and mostly empty of any real assets, they are however used as collateral in exchange for government currency, on the seedy side it becomes a from of legal counterfeiting, money laundering, and this attracts the most sophisticated organized criminals in the world. ------------------ It's sure come a long way from it's humble beginnings, and the propose they would have us to believe that it justifies. With all of it's unmitigated darwinistic qualities that an elite gang of closet anarchists and their wish to thrust a dog eat dog system on the underlings while they can imagine them selves as the super beings and untouchable in their inner circles of secret fraternities. --------------------------- Jim