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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (32843)	10/31/1998 12:43:00 PM
From: Pikewest	Respond to of 94695

Perspective on this market biz.yahoo.com

To: Haim R. Branisteanu who wrote (32843)	10/31/1998 7:58:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 94695

Haim I am mad too! biz.yahoo.com "Goldman denied comment, as did J.P. Morgan. Morgan said it had adequate firewalls in place within the firm to prohibit one part of the firm from discussing confidential information with another part of the company. Spokesmen for LTCM and for the consortium of banks involved in the rescue also declined comment" Anyone who believes that they have adequate firewalls, I have a bridge worth a lot of money for sale. Monty

To: Haim R. Branisteanu who wrote (32843)	11/1/1998 1:50:00 AM
From: Misha Orel	Respond to of 94695

Haim, I think your rightful indignation is a bit misdirected: what the FED has to do with your mutual fund manager ? FED is doing its job by trying to impose strict lending policies on commercial banks; I think it is more up to the SEC to do the same to mutual funds. Lowering interest rates affects both commercial bank lending and public debt market (actually banks are supposed to react first because FED lowers interest for their transactions; public market reaction is secondary), and overall debt quality will go down as credit will get more affordable, no doubt about that. But it's not a crime on FED's part - it's more like walking a tight rope between bad debt and recession (though at the end we may get both :-)).

To: Haim R. Branisteanu who wrote (32843)	11/2/1998 12:43:00 AM
From: Skeet Shipman	Read Replies (3) \| Respond to of 94695

Hi Haim, I for one applaud the actions taken by the FED for its leadership and interest rate reductions, the LTCM bankers for assuming the risk, Congress for IMF funding and restraint on fiscal budget changes, the president and Ruben for coordinating actions, the Japanize for cautiously moving to support their banking system, and the G7 counties for their coordinated action. These have done much toward stabilizing global financial markets. While many people on this thread have bet on the big Kahuna, I hope few of us really want it. Rereading the history and consequences of the last global depression enlightens all involved. Skeet Note: I am not saying the above actions have removed the threat of a global recession. They do provide a safety net to prevent it from spiraling into a global depression. There will be further significant destabilizing events and factors for which this safety net will be necessary.