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To: Alex who wrote (27336)1/30/1999 8:27:00 AM
From: Mark Bartlett  Read Replies (1) | Respond to of 116791
 
Alex,

Thanks for the AG quote.

<<If the owners or managers of private financial institutions were to
anticipate being propped up frequently by government support, it would
only encourage reckless and irresponsible practices. ">>

Since LTCM has been bailed, the stage has been set for the "me too" group. They may not be there today looking for the bail out ... but they will view LTCM's salvation as a license to leverage wildly.

If AG is serious, IMO he will have to say "sorry, no more bail outs" and stick by it. Otherwise his word will not be worth the paper the 20 dollar bill is printed on.

MB



To: Alex who wrote (27336)1/30/1999 2:02:00 PM
From: Investor-ex!  Read Replies (1) | Respond to of 116791
 
Notice how the word 'public' is qualified. They KNOW that our so-called central bank is privately held. Only the hapless 'public' taxpayers are on the hook for the excessive credit created by our esteemed lender of last resort in order to delay the day of reckoning.


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