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To: Alex who wrote (21344)	10/10/1998 7:03:00 AM
From: Edmund Lee	Respond to of 116823

Greenspan had done the same thing as the Hong Kong Government did. Hong Kong tried to bail out the stock market with public money. Greenspan tried to bail out LTCM with bank money. HK Gov't said they had to defend its currency because it would affect Asia's recovery if HK dollar fail. Greenspan simply said LTCM is too big to fail. Such a bail out would cost bank shareholders. Market rule is, if you are wrong, you have to pay. Fingers had been pointed to Hong Kong. Should fingers be pointed at Greenspan? Well what can you expect from a 70 year old man?