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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (1173)	9/23/1998 10:14:00 PM
From: MrGreenJeans	Read Replies (3) \| Respond to of 15132

Justa <<Do you have any take on Greenspan's comments today or the article you posted? >> 1. Greenspan's Comments: I expect, at this point, that Greenspan will lower rates to 5.00% by early next year perhaps in a series of two Federal Reserve moves of a quarter of a point each. (It would not surprise me though if he did it in one move. Although Greenspan in recent years has adjusted rates a quarter point at a time he has been known to make dramatic changes, such as a one point cut some years ago, all at once.) In the event he decides not to cut rates on September 29th...watch out below! The market is anticipating a rate cut based on today's speech. 2. Let me add some months ago Bob Brinker suggested the Federal Reserve would have to cut interest rates, even at the time the Fed had a bias to tighten, and that call is one that is becoming right on the mark. 3. "The Fed had stepped in to "facilitate" negotiations between Long-Term Capital and several US commercial banks, according to one New York banker."-The Fed should not be trying to save this hedge fund. Let the free market rule. Well run hedge funds survive...poorly managed funds should be allowed to fail. There are sophisticated people who placed their money in this fund and they know what they risks are or were. Further, if the Fed wants to try to save this fund maybe I should write Alan and ask him to intervene on behalf of Utek shareholders of which I am one.