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To: Charles A. King who wrote (9912)10/3/1998 12:12:00 PM
From: John Chylek  Read Replies (2) | Respond to of 13091
 
Nando: "Federal Reserve Chairman Alan Greenspan testified at a congressional hearing Thursday that the central bank stepped in to avert potential damage to the U.S. and world economies."

According to the WSJ article by Burton Malkielon 9-29-98: "It is estimated that some $200 Billion of capital has been invested in hedge funds. The capital of LTCM is perhaps 1% of the total." If Greenspins assessment of the potential LTCM damage to global economies is correct, then the bull market in the US is a house of cards.

Meanwhile, history will little note that about ten days ago those jolly old Senate Republicans killed a hike in the minimum wage.

I'm going to vote as many times as I can this Novemeber.

john