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Bruceb,Etc.,
So far the FED has the wisdom to do the right thing in most economic
situations, specially your domestic ones. They now know ,and have place of
responsibility for a lot of critical and world saving decisions to make (no
kidding). Maybe not the most popular solutions, but they are thinking the
implications for the rest of the world. Unlike the other major central banks who
only think of domestic implications/advantage in the policy descision making.
Hey guys!! Don't just think local, think international !! Its a lot smaller
world these days.
Like the theory goes ..... A butterfly fluttering its wings in Beijing, is
affecting the weather
somewhere in the world right now.......
> -----Original Message-----
> From: Felix TY <felixty@xxxxxxxxxxx>
> To: BruceB <bruceb>
> Cc: dlmiller@xxxxxxxxxxxxx <dlmiller@xxxxxxxxxxxxx>; Omega-list
> <omega-list@xxxxxxxxxx>
> Date: Sunday, September 27, 1998 8:21 PM
> Subject: Re: Hedge Fund
>
> >Bruce,
> > Hi !! The following is just my opinion. Mr Greenspan had to get involved
> in
> >order
> >to herd the bankers (who may already punch drunk by soooo many different
> bad
> >loans everywhere and all over), who might have collectively decide to give
> up
> >saving
> >LTCM, but these guys are not thnking of the big picture as Greesnpan did,
> the
> >thing
> >is so big,it might really pushed the house of cards down, so to speak, so
> Mr. G.
> >has
> >to come or things will become so out of control, in the future if he, as
> >powerful as he
> >is can't stop the storm coming. So we have to look at his point of view, if
> some
> >
> >situation is a world class killer. Intervention is good , if you are not
> biased,
> >look what
> >will have happened to the world in October 1987. if you FED has not have
> the
> >wisdom
> >and decisiveness, in giving the New York specialists unlimited access to
> funds
> >(through
> >the banks) so that they can support and absorb all the panic from the
> sellers,
> >after
> >the smoke was clear, that is truly what saved the day. (If you only know
> that
> >the
> >specialist weren't on their posts anymore or not answering their phones in
> the
> >scary
> >time.) We might have a different world today. So right now, Mr. G is
> putting out
> >a potential forest fire that so far is controllable, despite some attitude
> of
> >the bankers
> >who are hurt and licking from their wounds, and need current leadership to
> guide
> >
> >them in these times.
> >
> >
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