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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (834)	9/29/1998 7:30:00 PM
From: Freedom Fighter	Respond to of 1722

Does Alan Greenspan have a clue? Representative Richard Baker: "I am concerned ... as to our ability and resources to adequately identify the risk exposure in hedge funds." (Paraphrased) Alan Greenspan: "Let me say Congressman ... the lenders implicitly regulate that industry... and I should point out that they (hedge funds) have very great visibility but they are not all that large in the total context of the system." Less than two weeks ago he was saying that everything is copasetic and the hedge fund industry won't inflict that much damage. Now they come out and do tons of damage, right under his nose. He obviously doesn't understand the derivative exposure in the system. People always are giving this guy all sorts of credit, but he sure doesn't deserve it. Bill Fleckenstein