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Sorry, the below was written by me and not tquinn...
steven poser wrote:
>
> Ah, that bastion of the financial press, the National Enquirer, er New
> York Post. If you believe that, I've got a bridge to sell you...It would
> have to show up on the balance sheet some place.
>
> This makes no sense. If the Fed was that worried about the markets
> (which I think they should be) they would have at least cut the discount
> rate on 29-Feb. Interventions do not work unless they are done big time.
> Witness the sad history of central bank intervention in the forex
> market. All it does is clobber the shorts and give those who were not
> short an opportunity to short at a better level. If the Fed wants to
> prop up the market, all they need to do is say that they are looking
> into LEGAL ways of buying stocks. That'd scare the heck out of anybody
> shorting the market.
>
> Caroline Baum just wrote a great piece for Bloomberg News talking about
> similarly idiotic conspiracy theories that always crop up in the forex
> market and bond pits, the latest of which called for a rate cut over the
> weekend following an emergency meeting last week of the Fed.
>
> Watch out for the little green men. If they start buying spooz,
> Andromeda's the limit!
>
> Steve
>
> >
> > Earl,
> >
> > Here is a site from a newspaper article that agrees with you.
> >
> > All the best
> >
> > Terry Quinn
> >
> > http://nypostonline.com/business/5459.htm
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