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To: Ken Beal who wrote (68613)	10/1/1998 2:40:00 PM
From: Lee	Read Replies (1) \| Respond to of 176387

Ken,..Re: So perhaps we should go start a hedge fund so we can invest irrationally and know that the government will be there to bail us out. The government DID NOT bail out LTCM. If you read Greenspan's remarks posted earlier, you will note that, because of recent market instability, they thought it would be wise to facilitate resolution. Resolution is still private. Part of the mandate of the Fed, apart from price stability, is to make sure financial markets are greased. No money from the Fed went into saving LTCM. Edit: You would not have liked the alternative.