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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: NickSE who wrote (145)	9/24/1998 1:50:00 AM
From: James C. Mc Gowan	Read Replies (4) \| Respond to of 2794

Orbit: Thanks for WashPost story; I read that this will also be front page in tomorrow's NY Times. Probably back page in Wall Street Journal, wouldn't want to embarrass their best advertisers, you know. By the way, I was only off by one letter in my earlier recounting of the Moneyline report, the letter being B for billions, instead of M for millions.ggg As the story says, to people like Merriwether, what's the difference when you're playing with other people's money, one million, no 10 million, no 5 billion, what the hell, 1 TRILLION. It also always reassuring that the Federal Reserve is there to help bail out these pirates; does this have anything to do with Allan Greenspan's tipoff on an interest rate cut today in Washington? I'm looking forward to an objective analysis of the significance of this event, and the implications for other hedge funds potential problems, that may not have yet risen to the surface. Perhaps the Long Term fiasco has enough potential for financial choas without others. Will be interesting to see the forward look the Goldman Sack, Citigroup, Merrill Lynch, et al give on thier upcoming earnings statements. They have already begun to prewarn of overseas "trading losses" for this quarter. What may lie ahead? And many have had their stock price cut in half(big rally today with the Greenspan bs, however). I am at once intrigued and disgusted by these clowns; " we earn money the old-fashioned way...derivatives"ggg vocex

To: NickSE who wrote (145)	9/25/1998 1:12:00 AM
From: NickSE	Read Replies (1) \| Respond to of 2794

LOL! Maybe the politicans can do a better job running LTCM. US SENATE GOP: DO CLINTON'S MONICA WOES IMPERIL WORLD MARKETS? --Republican Policy Memo Probes The 'Monica Market' By John Shaw WASHINGTON (MktNews) - In a policy memo that makes the Laffer curve look like astrophysics, Senate Republicans have reduced the baffling complexities of the world's economic woes to one epic force: Monica Lewinsky. The memo traces the stock market's 1998 volatility, noting that in 11 of the last 18 sessions the Dow Jones Industrial Average has moved one percent or more. It further notes that in 61 days this year the market has moved by at least one percent. "While obviously many factors affect the financial markets on a day to day basis, also obvious -- particularly since August -- is that the President's predicament has been one of them," the memo says. Charting the trajectory of the Dow Jones against the backdrop of the Clinton scandal, the Senate GOP memo argues that "even over the course of the year's entirety, the market's performance has broadly tracked the predicament of President Clinton." The memo sets out a timeline for such historic events as "the Story Breaks," "Susan McDougal released from prison," "Lewinksy granted immunity", "Lewinsky turns over physical evidence" and "Clinton admits to 'inappropriate relationship'" and links them to swoons in the market. "It is a legitimate concern that President Clinton's past, current and potentially perpetual problems will serve to undermine an already weakened American economy and even weaker global one," it says. "Rather than the 'bull' or 'bear' market, do we face a 'Monica market,' hallmarked by dramatic and discomforting volatility?" the memo questions. Market News International