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

To: Ramsey Su who wrote (6675)	9/24/1998 2:39:00 PM
From: Henry Volquardsen	Respond to of 9980

Ramsey, Actually we're even, I had root canal this morning. :) Henry

To: Ramsey Su who wrote (6675)	9/24/1998 2:41:00 PM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 9980

Ramsey, FWIW Volcker appears to agree with you, so this will give us more fodder for debate when you feel better (hopefully soon). Ex-Fed Chief Volcker Questions Fed in Long-Term Capital Bailout 9/24/98 14:30 Ex-Fed Chief Volcker Questions Fed in Long-Term Capital Bailout Boston, Sept. 24 (Bloomberg) -- Former Federal Reserve Chairman Paul Volcker questioned whether the U.S. central bank's ''official sponsorship'' of the $3.5 billion bailout of Long-Term Capital Management LP was proper. ''Why should the weight of the federal government be brought to bear to help out a private investor?'' Volcker said. ''It's not a bank.'' The Fed's willingness to come to the aid of Long-Term Capital ''has implications about public policies'' for regulating hedge funds, Volcker said at a speech sponsored by Advent Software Inc., a San Francisco-based software maker. He didn't say what the implications could be. Long-Term Capital received a bailout from lenders after $4 billion of losses prompted the Fed to organize a rescue late yesterday. Henry