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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: flickerful who wrote (29003)9/26/1998 9:32:00 AM
From: Monty Lenard  Respond to of 94695
 
After the market dropped 22.6 percent on Oct. 19, 1987, the Federal Reserve:

1 Encouraged the New York Stock Exchange to stay open.

2 Encouraged big commercial banks not to pull loans to major Wall Street houses.

3 Kept open a subsidiary of Continental Illinois Bank that was the largest lender to the commodity trading houses in Chicago.

4 Flooded the banking system with money to meet financial obligations.

5 Announced it was ready to extend loans to important financial institutions.

I think AG did 2,3,4, & 5 with the LTCM deal directly or indirectly. The difference is that he did it ahead of time.

Monty



To: flickerful who wrote (29003)9/26/1998 10:16:00 AM
From: Skeet Shipman  Respond to of 94695
 
Hi +fickerful,
I for one greatly appreciate your news postings - most informative. The reassessment of risk resulting from the LTCM collapse will cause in trillions of dollars of leveraged capital to be unwound and exit global financial markets. This will accelerate the contraction in the global money supply.
Skeet


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