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

To: Investor2 who wrote (1187)	9/24/1998 1:26:00 PM
From: Thomas M. Carroll	Respond to of 15132

I certainly think that if this hedge fund gets a bailout, there should be some form of sanction e.g. not being allowed to invest similarly for a specified period of time. They shouldn't be able to have it both ways. Tom C

To: Investor2 who wrote (1187)	9/24/1998 1:27:00 PM
From: Kirk ©	Read Replies (1) \| Respond to of 15132

I believe the US Constitution should be amended to include "There shall be no laws enacted to prevent a fool and their money from parting" Of course, stiff penalties for fraud, extortion, etc. need to be kept, but now I think we need a rider to my amendment to add or clarify: "and no amount of power or power-lunches shall enable an individual or group of individuals to recover losses allowed by the Foolish Amendment - especially at taxpayer expense." Saving this sort of fund - risky investment scheme - is just the sort of cronyismn we are imploring our trading partners in Russia and Asia to eliminate. jeeze.... Kirk out

To: Investor2 who wrote (1187)	9/24/1998 1:37:00 PM
From: Alan Bell	Read Replies (2) \| Respond to of 15132

I2, I don't believe that the US Taxpayer did come to the rescue of Long Term Capital Management. My understanding is that the NY Fed had conversations with Banks that were on the wrong side of LTCM's margin positions and convinced them to provide capital to LTCM. These banks now have a great deal of oversight and control of LTCMs activities. The original shareholders (who should have been watching) have lost much or all of their investments. I don't see any public money being put in. Have I missed something? Leverage should be limited to the extent that it allows the hedge funds to gain control over such large positions that they can manipulate the markets and create situations that cause serious disruptions to international financial stability. Limits shouldn't be removed, however, for the purpose of protecting the investor. FWIW, Alan