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

To: James F. Hopkins who wrote (29754)	10/1/1998 1:58:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 94695

Here you go Jim ...some fresh ammo just in case you are getting low. :-) <<WASHINGTON, Oct 1 (Reuters) - A key U.S. lawmaker on Thursday called for the Justice Department to review whether the consortium put together to rescue ailing hedge fund Long-Term Capital Management would be too powerful. ''The combination of many of the world's most sophisticated financial powerhouses to operate jointly hedge fund activities may add up to more sway over relative currency values than any central bank or finance ministry in the world can match,'' House Banking Committee Chairman Jim Leach said. Leach made the call for the review in a statement released at a committee hearing into the LTCM rescue. ''The bailout may involve a tendency toward concentration that the Justice Department has an obligation to review,'' the statement said. Speaking at the hearing in reply to a question from Leach, Federal Reserve Board Chairman Alan Greenspan said he was less concerned about concentration of power. ''I myself am far less concerned than you are with respect to the concerns that might arise from that,'' Greenspan said.>> Monty