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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Stefan who wrote (47819)	2/18/1999 2:54:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Were you talking about the 8-9 point decline in AMZN, or something that someone said about it? (when you said it was "getting smoked") I was interested because I sold my remaining puts while it was down and wondered if I had missed something. I expect it to go a lot lower, but it had got to the point where it would have to hit something like 45 before my gains would really be safe.

To: Stefan who wrote (47819)	2/18/1999 11:52:00 PM
From: Stefan	Read Replies (1) \| Respond to of 132070

This is excerpts from New York Times' report on global economic crisis. Full article can be found at: nytimes.com "The message from Washington during these upheavals strikes some foreigners as hypocritical. When Thailand and Brazil were hit, the Clinton administration's message was firm: Raise interest rates, cut government spending, put up with a recession if necessary, allow banks to fail, be stoical. Yet in September when the crisis seemed as if it might strike the United States, the administration had a change of heart. President Clinton went into overdrive in September, welcoming three interest rate cuts by the Federal Reserve, pressing Europe and others to cut rates as well, and finally getting money out of Congress for the International Monetary Fund. The Federal Reserve even coordinated the rescue of Long-Term Capital Management, a hedge fund backed by wealthy investors. The rate cuts were precisely the opposite of the prescription that the United States had handed out to everyone else. And these days, there is a lurking fear in Washington that these countermeasures may have worked too well -- creating a false sense of security. At Treasury and the Federal Reserve, officials were concerned to see that their actions seemed to have moved millions of investors from an excess of fear to a new spasm of exuberance, sending the market to a new high. Officials say they worry that the eventual fall, if there is one, may be that much farther. "