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To: PaulM who wrote (20233)	10/1/1998 11:55:00 AM
From: Alex	Respond to of 116753

Nice post Paul. This blatant manipulation makes a mockery of the free market concept.

To: PaulM who wrote (20233)	10/1/1998 12:39:00 PM
From: Bobby Yellin	Read Replies (2) \| Respond to of 116753

Hi Paul: first the fed didn't bail out the ltcm..but by convening the meeting if that didn't signal huge castrophes down the road if a quick fix wasn't implemented I don't know..Brazil for the next castrophe anybody.. first I will ask you some questions and then I'll give you one of my streams of conflicting thoughts.. the big banks are announcing how much liability they have in hedge funds..what they aren't announcing is how many derivatives are in their portfolio..want to guess..are their bylaws friendly to derivative plays secondly with the coming down of interest rates do you have any idea as to how many people living on fixed income there are who are getting killed? the most important question re employment..without the machinations of the federal "reserve"-(ha) do you think eventually employment would have risen when new industries started emerging..ie the huge internet and communication boom? that question continually puzzles me..did we have to go through all these gyrations and create havoc in the emerging countries to create the "boom" here in USA? re Russia meltdown..I think that is what rocked the world of derivatives..big dumb players were betting on big dumb government officials to bailout out at all costs Russia(I think I read that their exports were down 75 percent and I heard somebody testify that at least in 1990 they were actually manufacturing goods whereas 20 billion dollars later..zippooo except for a few multi billionaires..talk about flow of wealth into a tiny group of people.. also read in Barron's towards beginning of year that one European manager said that the banks were lending money to financial instruments and not to developing businesses..again..the flow of money into something nonproductive and into a few big hands.. remember a friend who was a former analyst saying that citicorp was a shoe in back when it looked as if it was going bankrupt because "too big too fail"..makes me wonder about the opposition party in Japan who are saying we don't want taxpayers to bailout the bad loans..how much did our bailout cost 1 trillion I have heard and once again how much did a few well placed people made.. what really gets me sad is that I see so many small companies with incredible technology that could solve so many problems get no financing..I wouldn't mind if our government risked our own money for these companies to possibly pay off big time for the citizens instead of a few egomaniacs.. beginning to think it is not greed but egos or else cowards who refuse to take risks but know how the government works.. why don't the g7 just raise margin requirements big time so the huge money can't control markets.. ps..the excuse that no money will flow into emerging markets for investments..when was it really investment money ..looked like bubble building money furious bobby ps.. big deal about budget surplus..why don't the papers cover how huge our national debt is..also how much is our probably soon to be increased ex peace dividend going to add to the debt.. ps. since most people's heads are in the gutter with the Clinton fiasco..what a perfect time for all the crises in the world..some say not as bad since 1944..to go unnoticed by the general populace..what timing!

To: PaulM who wrote (20233)	10/1/1998 1:18:00 PM
From: long-gone	Read Replies (2) \| Respond to of 116753

Paul, I too am angry (past all words) for the system that would allow the major investors in LTCM to maintain 10% equity positions in a renewed company, while no such 10% was allowed to the mining company workers who have been laid off due to the predatory manipulative actions of this hedge fund and those brokerage houses and banks who (it now appears) acted in their own behalf during each and every anti-gold recommendation and falsified anti-gold "news" report of the last few years. Why should the "sophisticated" investors of which Dr. Greenspan speaks be allowed anything while the precious metals miner got nothing for the greatest investment any of us have, our lives work?