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 : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Skeet Shipman who wrote (32895)	11/2/1998 1:35:00 AM
From: Berney	Read Replies (1) \| Respond to of 94695

Skeet, I admire your idealism, but believe it misplaced. July does not seem so long ago. The markets tumbled as Mr. G in his testimony before Congress indicated that we were in the best shape in 50 years (as my memory allows it). Fast forward 2 months. President in his desire to secure his IMF bailout money is running around the country yelling that the sky is falling and Rubin is using the word crisis in every paragraph. Congress caves in and provides for IMF bailout money in the budget agreement. A few minutes later the Fed lowers rates. It's done less than an hour before certain option markets close, causing folks to scramble to cover their positions. I would probably not be as caustic if the Fed had waited until the following Monday. However, it is clear to this observer that they clearly knew what the market reaction to their timing would be. Folks have long joked on this thread about the PPT. I think we all understand at this point that it is not a joke. I believe that they have only delayed the inevitable, but then, they probably were only trying to delay it past the election in any case. For now, as long as OEX 523 holds, I'm a raging bull. Berney

To: Skeet Shipman who wrote (32895)	11/2/1998 8:12:00 AM
From: HairBall	Respond to of 94695

Skeet: I for one applaud the actions taken by the FED for its leadership and interest rate reductions, the LTCM bankers for assuming the risk, There is no doubt in my mind, when AG brokered that deal, he made a deal to drop rates to support their investment. They knew in advance. Regards, LG

To: Skeet Shipman who wrote (32895)	11/2/1998 8:17:00 AM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 94695

Skeet all right, unfortunately you are mixing rotten apples with oranges. That may be the impression of the un-informed. Today WSJ has some new relevation and would also strongly suggest to learn or study the various laws governing banks and investments. 1. Bank are supposed to make loans to the real economy 2.Insurance companies are supposed to insure risk in the real economy 3. Brokerage houses are supposed to broker between sources of capital and economic entities 4. The FED is supposed to bring about CURRENCY stability and economic growth without inflation So none of the above are supposed to get involved in speculation of financial assets or the bail out of those that erred. Unfortunate they are doing so each for it's own reason driven by pure greed and not in the long term interest of a healthy economy. BWDIK Haim