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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: donald martin who wrote (26726)	1/22/1999 9:56:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116789

<<LTCM is a very special case. They bet that certain irrationalities in the market place would eventually become "rational". (Spreads in Treasuries that existed due to unusual preferences between older and newer issues that affected liquidity.) Instead of becoming more "rational" the spreads became more irrational. >> It is also becoming clear that they were playing in certain commodities on the shortside. Did their proxies - the investors in LTCM(those same brokerage houses and banks) - begin to advise their sub-investors, in such a way as to manipulate the broad market? Will we ever know the truth? Would any act now be "putting these acts right" or just more "bail-outs"? Can they forever go forward with these short positions (and resulting rewards and bonuses)? Will anything ever be righted?