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<DIV><FONT color=#000000
size=2> <FONT
color=#000000>Hi Richard and all,</FONT></FONT></DIV>
<DIV><FONT color=#000000 size=2><FONT color=#000000></FONT></FONT> </DIV>
<DIV><FONT color=#000000
size=2>
Perhaps we should all re-read "Den of Thieves" by James B.
Stewart In this account of the Ivan Boesky / Michael Milken insider
trading ring he explains how ridiculously easy it was for them to conceal there
net capital requirements violations until it was to late. Has much
changed? I doubt it.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000
size=2>
Good luck and good trading,</FONT></DIV>
<DIV><FONT color=#000000
size=2>
Ray Raffurty</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Richard Chehovin <<A
href="mailto:GalacticFXInternational@xxxxxxxxxxxxxxxx";>GalacticFXInternational@xxxxxxxxxxxxxxxx</A>><BR><B>To:
</B>RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR><B>Date:
</B>Thursday, October 15, 1998 2:17 PM<BR><B>Subject: </B>LFG Financial
Situation<BR><BR></DIV></FONT>
<DIV><FONT color=#000000 size=2>Having been a principal and chief compliance
officer of a firm in the past, it is important to remember that regulators
have net capital requirements for the firms to remain solvent. When a firm
falls below the requirement, they must notify the regulators of it and
explain how they intend to resolve it. Then the regulators need to determine
if the solution is workable and if the firm should remain operational or be
shut down. In most cases if the breach of the requirement is not severe and
the firm has had a good operational history they are seldom shut down.The
breach is usually corrected with a capital infusion or subordinated loan.
This type of occurrence happens more than one knows today, but should not be
taken lightly. Most quality firms will tell their traders and take
appropriate risk measurements. Hence the rumors start from the employees
talking. This is a prudent action, however, dangerous from a public
relations stand point. When a firm fails to tell its traders, and doesn't
take appropriate measurements to curb risks, is usually when they blow up
with total surprise to the public. </FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Sincerely,</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Richard
Chehovin</FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Thu Oct 15 20:36:20 1998
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Date: Thu, 15 Oct 1998 22:51:30 -0400
Reply-To: "RAY RAFFURTY" <rraff@xxxxxxxxxxx>
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From: "RAY RAFFURTY" <rraff@xxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Fed Cut
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It is my understanding that they can do it by a conference call,
which is probably what happened. Also I believe the Chairman has the power
to move rates 1/4 in an emergency, subject to later review by the Board,
without a meeting. Not likely with a consensus builder like Chairman
Greenspan.
Good luck and good trading,
Ray Raffurty
-----Original Message-----
From: H&M Feld <ariel@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, October 15, 1998 5:50 PM
Subject: Fed Cut
>Rt's
>
>I was looking on my economic events calender and did not see a FMOC
>meeting scheduled for today. Was today's meeting public knowledge?
>Or do these guys sometimes meet in secret. Harry
>
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