To: Henry Volquardsen who wrote (112 ) 9/18/1998 11:17:00 AM From: Worswick Read Replies (1) | Respond to of 2794
Thanks so much for the answer about the French banks Henry. I suspected as much, but it is difficult to tell what you said from the "outside". Another debacle waiting to happen. Tick. Tick. Tick. On another subject as a trader (you) I have really come to think that you must simply (yourself) keep ahead of the wave here. You (and we) are not going to get anything in the way of help from the US government here in the unrolling crisis. This whole thing is like a giant rug rolling down a long corridor. You look up behind you and all you see is this huge red rug about to crush you; and, the only thing to do is run faster. You can't get out of the corridor... you just keep running faster and faster. Government will only add to the problem not help it. At that I am developing this sinking feeling that the US securities markets (particularluy the stock market) are being massively supported by the powers that be and, probably, the trading room at Goldman, Sachs...the same Goldman people, who at the same time, are trying to desperately unwind many of their positions. At that the giant red rug is speeding up. paraphrased from the Dismal Scientiest Site .the IMF's resources largely spent and none (more resources) are apparently forthcoming. I investors are coming to the conclusion that there is no institution to step in and tell investors that they stand ready to stave off of a liquidity crisis. Investors with any risk anywhere are thus rushing to the proverbial door all at the same time. This, with the bank problems, are the pending source of a world liquidity crisis. See: dismal.com well, I must go off an tend to my shrinking portfolio. Each time I look it is like my portfolio is on a heavier diet. Is this fiscal anorexia or just fiscal dysentery? My best to you this late am, Clark