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he did the same thing in nov 98-starting one of the biggest moves in mkt
history.
David Pyle wrote:
>
> I just came back from Chicago yesterday and on the plane read a very good
> book on Alan Greenspan called "Maestro" by Bob Woodward.
>
> Before I read that book I would have been surprised by the move between
> meetings. But now I understand that president has already been set to move
> between meetings.
>
> Dave Pyle
>
> DPyle96@xxxxxxxxxxxxx
>
> ----- Original Message -----
> From: "amjad moghul" <amjadm@xxxxxxxxxxxxx>
> To: <omega-list@xxxxxxxxxx>
> Sent: Wednesday, January 03, 2001 5:15 PM
> Subject: RE: the Fed
>
> > The point most people are missing about Scheier's comments are not that
> > he was short or long. The fact that most people are naturally long - even
> > in a bear market will no doubt welcome todays actions - but I agree with
> > Scheier - the fed should have stuck to its original plan for its meeting
> > end of January to announce. Im sure if the tables were turned and they
> > raised rates in the middle of the day alot more people would be
> complaining
> > and 'whining'. People forget that the last fed meeting was not so long
> ago
> > and they had ample opportunity to 'do the right thing' at that meeting.
> > Raising or lowering interest rates in the middle of a trading
> > period - especially at 1:15 - when most people are at lunch? You have to
> > wonder about the timing -let alone the day.
> >
> >
> >
> > --
> > Amjad Moghul
> > amjadm@xxxxxxxxxxxxx
> > --
> >
> >
> > -----Original Message-----
> > From: DH [mailto:catapult@xxxxxxxxxxxxxx]
> > Sent: Wednesday, January 03, 2001 4:41 PM
> > To: Omega List
> > Subject: Re: the Fed
> >
> >
> > > I have previously held Mr. Greenspan in fairly high regard, but
> > > must reconsider my opinion. This is an example of the Fed
> > > playing god. That's not its role.
> >
> > <chuckle> Sounds like somebody got caught short. My advice, get over it.
> > Sh*t happens. Anyone who doubts that Greenspan is the most powerful man
> > in the world needs to take a reality pill. His charter is to do the best
> > he can for the overall economy. He doesn't owe the short sellers squat.
> > Sure, with the benefit of hindsight, they should have started easing
> > earlier but better late than never. I've heard the whiners complain that
> > the Fed should have done the cut before or after market hours. The price
> > spike would have been worse if they did that. It would have locked the
> > futures markets limit up and no paper would have been able to trade.
> > Better for the average garage trader to let it do its thing and give
> > them the option to trade if they wanted to. About the poor market
> > makers, they knew the risks when they took the job and they are well
> > paid for them. No sympathy here from someone who is more often than not
> > a victim of manipulation by the market makers. I'm sure they will be
> > doing their best to manipulate the market back down so they can cover
> > their positions at the expense of the public. Personally (since I'm long
> > :-) I hope they don't succeed.
> >
> > --
> > Dennis
> >
> >
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