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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Haegin who wrote (6468)	9/17/1998 11:04:00 AM
From: Ramsey Su	Read Replies (2) \| Respond to of 9980

Thomas, the only conclusion I drew was the game is not over. On the government side, who knows what other tricks they have in the bag in terms of new or altering regulations. On the other hand, the speculators have the weak market on their side. I suspect there may be no winners in this battle. Even if HKMA win today, the system may be too damaged for any type of a near term recovery. Being clueless on this high stakes poker game, I really don't have an opinion on whether HSBC will go up or down. It is worth our attention because I think the outcome could be a market moving event. Ramsey

To: Thomas Haegin who wrote (6468)	9/17/1998 3:24:00 PM
From: DMaA	Read Replies (2) \| Respond to of 9980

I am surprised that this item has not raised more eyebrows. Greenspan yesterday trashed the IMF. WSJ today: Add Federal Reserve Chairman Alan Greenspan to the growing list of people who've about had it with the IMF's current course. Answering questions after he and Treasury Secretary Rubin testified to the House Banking Committee yesterday, Mr. Greenspan said of the IMF that "a fundamental restructuring is urgently needed." He said we've reached the point where we need to either go ahead with what it's been doing (and he did not endorse that, unlike previous testimony), or we need to shut them down and "restructure" the IMF to reflect the huge changes in the world market system, meaning, as he said, "start from square one." Sounds like it's time to get started. interactive.wsj.com