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To: long-gone who wrote (33975)	5/15/1999 10:28:00 PM
From: goldsnow	Read Replies (1) \| Respond to of 116764

In other words the Stock Market propelled by low commodities and other cheap imports that masked inflation is about to end or would end at some point....Where would money go...Asia? fine hat would undermine dollar more And by the way what would Americans do when their Retirement Plan start showing decline-month after month?

To: long-gone who wrote (33975)	5/15/1999 10:43:00 PM
From: long-gone	Respond to of 116764

O/T, or is it, as it shows how (dis)honest the brokerages are. SEC PROBES TRADING CONTROLS AT NYSE By JOHN CRUDELE THEY All do it. More than a year ago, the New York Stock Exchange went after a group of brokers connected with Oakford Corp. on its trading floor who it said were cheating. They were placing orders for their own accounts ahead of customers, the Exchange said, making money at the expense of those they should have been serving. I said in a column back on March 6, 1998 that the eight accused floor brokers - while obviously doing some naughty stuff - should complain that they were being singled out for something "they all do." And I said in this space a few weeks after the first column that the NYSE would soon be going after others. "There are others we are looking at," Big Board chairman Richard Grasso told me in an interview. Grasso said more action would probably come in a couple of months. Actually, it took slightly more than a year. The Wall Street Journal caught up with the story Wednesday, saying "federal prosecutors and securities regulators are investigating the trading practices of as many as 64 brokers on the floor of the NYSE who may have illegally shared profits with customers." That practice is against the law. The paper said more than half of the 64 "are believed to have ties to Oakford." (cont) nypostonline.com best part is "We will all miss Treasury Secretary Robert Rubin, but not nearly as much as the gang on Wall Street that can't invest straight. I assume that Lawrence Summers, his replacement, will be equally cooperative in bailing out losing investments on Wall Street. But Summers will have to bend a good distance backwards to top Rubin, who not only had Washington save the butts of a bunch of well-heeled Americans who foolishly had invested in Mexico (many of whom happened to be clients of his old firm, Goldman Sachs & Co.) but was also instrumental in riding to the rescue of the geniuses at Long-Term Capital Management. That's the hedge fund that nearly sank the entire world financial system last year. Rubin's legacy will include a fabulous economy built on a stock market bubble and loyalty to a president who didn't deserve it. "