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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: Joseph G. who wrote (9288)	10/22/1998 8:28:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

<<Rumor of the Day I have heard from a couple of pretty good sources that prior to the last Fed easing, several institutions with D.E. Shaw problems - and D.E. Shaw itself - were informed of the impending rate reductions. This fits neatly with my theory that the Fed did what it did to bail out Bankers Trust. SO maybe it wasn't Bankers Trust, but nevertheless some institution with a big equity-derivative book was given the nod ahead of time so it could prepare itself. While everyone might be glad that the market rallied, if in fact what I just described is true, those of you who sold into that rally were ripped off by some institution that got the heads up. When the Fed does its little cloak-and-dagger maneuvers, somebody takes it on the chin. It isn't right and it won't work in the long run, but that is what we are dealing with - a rigged stock market. So keep that in perspective. >>