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To: Bobby Yellin who wrote (20253)	10/1/1998 8:24:00 PM
From: Investor-ex!	Respond to of 116753

Morgy, fed didn't bail out the ltcm... 10 cents on the dollar is not zero cents (or less?) on the dollar. They were bailed out! And to make matters worse, they were bailed with several FDIC institutions. Of course, most of these same fat, stupid, coddled banks were on the hook anyway. Where's the regulation? Who's heads will roll for this? And guess who pays for these shenanigans, ultimately? And Congress wanted to deregulate the banks some more. And Congress wanted to stuff social security monies into the market at the top. Also, the budget is NOT balanced -- another BIG LIE, courtesy of the big liars. Tirade over. :o)

To: Bobby Yellin who wrote (20253)	10/2/1998 1:57:00 AM
From: PaulM	Read Replies (3) \| Respond to of 116753

B, hasn't the Fed organized bailout essentially formed a cartel? The members of the consortium know what LTCM's positions are. You and I don't. There's money to be made in knowing what LTCM's positions are. And there's money tobe made in knowing what positions the other big boyz may have in relation to the liquidation of LTCM. In fact, for the "orderly" liquidation to take place, the FED has to hope that the consortium members don't trade for their own benefit based on expected liquidation of LTCM. Which means that the FED is hoping for collusion and secrecy. Which isn't exactly the same as the "free capital flow" and "transparency" the FED is always championing.