Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Derrick P. who wrote (7134)	10/15/1998 9:26:00 PM
From: Ramsey Su	Read Replies (1) \| Respond to of 9980

Derrick, today marked the end of this mythical free market concept the US had been trying to sell to everyone else in the world. I cannot be convinced that the surprise move prior to expiration are not intended to bail out the financials heavily exposed to the hedge funds. How about some transparencies here? How about disclosing to the world the LTCM positions that prompted the $3.5B cash infusion? How about letting us little people in on who are the benefactors of the TIMING of today's rate cut? The Feds made someone paid dearly today to bail out LTCM, other hedge funds and related financial institutions. The hypocrisy of Greenspan is finally showing its true colors. There has been very little discussion on the actions that the Japanese has taken recently. I am estimating half a trillion US dollars just got added directly to their national debt. This is just from the 43 trillion Y for the banks, US$30 billion for Asia aid and potentially doubling their tax cut plans. The impact to the Japanese economy is going to be devastating. With the stronger yen, the Toyotas and the Canons are going to have a very tough time ahead. Just like China, Japan appears to have some recovery plan in place but it has so many hurdles that even Edwin Moses may not be able to overcome. I am going to go to Thailand next month and check out the origins of the Asia contagion myself. Ramsey