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To: DO$Kapital who wrote (68979)	10/3/1998 1:45:00 PM
From: Lee	Read Replies (3) \| Respond to of 176387

Just4,..Re:The press did NOT have to AMPLIFY THE STORY. This sordid, disgusting story speaks for itself. Amplification may also be accomplished by omission. Perhaps I didn't clearly state the obvious. Re: Many members worry the Fed sent the wrong message with its bail out of wealthy investors.. If this is from the press, it is technically and functionally inaccurate. The FED DID NOT bail out LTCM. All the Fed did was to facilitate a resolution. If the press continues to state that the Fed bailed out LTCM, then they are incorrect. Message 5903154 The Fed hosted the meeting and may have done some arm twisting behind-the-scenes From your previous remarks such as Doesn't sound kosher to me. They had an offer from WARREN BUFFETT fergawwwwwwwwwd's sake!!! Why didn't they accept? Playing games with (in effect) our money? They are currently not playing games with YOUR money; however, if they had been forced to liquidate immediately and had to mark all positions to market, then the selloff in the last couple of weeks could have taken us to Dow 6000 or lower. In that case, you could say it was playing games with your money. Be grateful the Fed had a good idea. Can the consortium that controls Long-Term Capital Management dispose of the firm's $100 billion in assets without further roiling the markets? The consortium is giving itself three years to unwind the Long-Term Capital Management portfolio, plenty of time, they think, for an orderly liquidation. Finally, re: I will say this again: no ONE HAS EVER OFFERED TO BAIL ME OUT OR HELP IN ANY WAY SHAPE OR FORM. Again, the Fed is not bailing anybody out. The consortium of investment bankers and brokers agreed to ante up the bailout money to protect THEIR stupid investments. They have in essence bought themselves time. If you think there is collusion, that is your choice. I'm just hoping the markets return to normal now that other management is in charge and that they don't have to dump winning positions to pay for losses.