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To: PaulM who wrote (22460)	10/31/1998 5:14:00 PM
From: Bobby Yellin	Respond to of 116753

Hi Paul: Hopefully what goes around comes around..a friend of mine told me if I understood him correctly that the egos are so big on top that they are blinded..I just assumed they didn't have brains :-( I thought Buffett was bullish on interest rates and that is why he picked up that insurance company..and sold his zeroes..more bang for the buck with their portfolio.. talk about No insider trading..when those firms got to glance at the ltcm portfolio..of course they have firewalls between divisions :-) afterall this is about money...certainly money isn't more important than ethics..certainly most of the world can't be tempted by money..there are far more important things in life...certainly the dead former head of Warner Brothers would tell you that if he could :-)(sorry sick joke but he fired so many people and took I think such huge bonuses so I wonder how his money looked to him as it couldn't save him from cancer)(am also curious how many parent are faced with their children "covering up" more these days and if the parents confront them..wonder if the children will say..well its all right..most americans are angry at the prosecutor Mom and Dad and that means "YOU".. Still think down the road we will be headed for a war to makeup for all the strapped middle class's buying power around the world. Wonder what would have happened if Betty Friedan had shut her mouth. ps just reposting what I had read in the New York Times a couple of weeks ago about the middle class running as fast as they can and not getting anyways Worswick (565 ) From: Morgy_Dog Sunday, Oct 18 1998 10:52AM ET Reply # of 621 nytimes.com not sure if you have to register for free or if it can be read upon clicking.. this article supports your looking at the forest instead of looking at what the press and government usually puts out.. read about the middle class and how much they have progressed with this "stellar recovery".. for private use(thanks for that one) "The result is painfully obvious in many households. While wealthier families enjoyed big gains, particularly from the booming stock market, most households find that their incomes, adjusted for inflation, are no higher today than they were in 1989, when the last expansion ended. Americans, for the most part, have been running in place for 25 years. And as economies around the world weaken, Americans are unlikely to gain ground soon.".....But that debt accumulation has come at a cost. By one estimate, 5 percent of all the nation's households have filed for bankruptcy protection the last five years....... What's more, the 1997 level was only $1,260 above 1973's income of $35,745. Many households in the 1960s added more to their incomes in a single year than their counterparts today have added in 25 years. And they did it with one wage earner, not two or three, working fewer hours than the average jobholder does today...While the job market is strong, layoffs are nevertheless running ahead of 1980s levels. Many jobs lack company-subsidized health insurance -- 18.3 percent of the nonelderly are without coverage, up from 16.1 percent in 1990. But the robust hiring and the declining unemployment rate had an unexpected payoff. .... huge problem left unresolved as the expansion appears to wind down is a divisive inequality that has developed among income groups, a trend that took root in the 1980s and that the 1990s expansion has failed to interrupt. Pay for low-income workers, or people earning less than $7 an hour, has increased smartly in this recovery, pushed up partly by a higher minimum wage and the earned-income tax credit, which is, in effect, a federal wage subsidy. But the gains among high-end jobholders have been even greater, widening the inequality. And workers in the middle, earning $9.75 to $15.50 an hour, lost ground, after adjusting their pay for inflation. maybe too many people were ashamed to admit that they have not been doing better than ever when they assumed everybody else was..