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

To: J. P. who wrote (50240)3/7/1999 6:54:00 AM
From: Earlie  Read Replies (3) | Respond to of 132070
 
JP:
There is a hint of it in the article. Note the comment, "unknown special factors seemed to have DRAINED RESERVES more than anticipated.....". There is your key. Reserves are being pulled in from the banking system. We all know what that means.

I think Greenspan has had enough and is tugging on the reins a bit. He sure made it remarkably clear in his Senate speech. I have never read anything like that from "Big Al" in many years.

If I'm right, and if it continues, this market is about to be singed, and badly.

Best, Earlie



To: J. P. who wrote (50240)3/7/1999 12:00:00 PM
From: Knighty Tin  Read Replies (1) | Respond to of 132070
 
JP, Good piece. What I love is that "unknown special factors" caused a drain in reserves. They don't know what they are, but they know they are temporary. <g> Could it be our largest bank accepting 5 cents on the dollar for its Russian loans? Nah, they will be allowed to pretend they got the entire amount.

MB


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