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Al,
If you own US$ 214.75 to your bank you have a problem.
If you owe US$ 90 billion, the bank has a problem.
In this case even Alan G., other banks and probably the tax-payers have a
problem.
BTW: Thanks Tim for your very informative posting on this subject.
Trade cool,
Frans
At 13:09 26-09-98 -0500, you wrote:
>As I understand it, if the fund had to liquidate their HUGE holdings in
>TBonds, this would have depressed the market and caused great calamity in
>the markets. Mr. Greenspan said this was to keep the markets from being
>roiled. (Did this sound like we have to supply liquidity to Morgan
>Stanley, Merrill Lynch, Goldman Sachs?) How do you get to be "to big to
>fail"? Can I get the $214.75 back that I lost on my Barnes and Noble
>short?
>
>Al Taglavore
>
>----------
>> From: Guy Tann <grtann@xxxxxxxxxxx>
>> To: Metastock <metastock@xxxxxxxxxxxxx>
>> Subject: Hedge Funds - Help!
>> Date: Friday, September 25, 1998 7:42 PM
>>
>> To All:
>>
>> Since I'm just an ignorant futures trader, I need help from all of you
>> experts to understand what in fact a hedge fund is, how it works, why a
>> bunch of banks had to take that one over the other day, why the market
>would
>> think this is good or bad, and why our banks have a potential trillion $
>> exposure to other hedge fund losses (based upon the talking heads)????
>>
>> Is this just another thing I have to worry about? It's not enough I
>worry
>> about what those idiots are doing in Washington, the problems in Asia,
>> Russia, Central & S. America and Mexico. Now I have to worry about hedge
>> funds, bailing them out and the exposure to our banking system.
>>
>> Thanks
>>
>> Guy
>>
>>
>>
>
>
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