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:What I don't get is why the fed would intentionally wreak havoc with the
:financial markets like that. I have a rule that I never have a trade on
:in front of an important Fed announcement, but there is just no way to
:prepare for that kind of carnage. Greenspan had to know that this would
:cause some serious margin calls, perhaps bankruptcies, for potentially
:50% of the traders with positions in the futures markets. I hope he has
:a clear concience about that.
I don't think Greenspan gives a hoot about us. To him, we're just
"speculators". I don't think he even took us in consideration when he made
the decision to announce the rate cuts.
However, we must give him credit for not making the announcement after the
markets were closed. Imagine the damage if he did that, with all the
problems we currently have with Globex. ;-)
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