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Not to defend Steve Poser, though he is a client of mine, but I have often
wondered why the Fed or Treasury futures trading accusations have not sparked
more FCM back office talk. Given the fluid nature of the back office job
market over time, I would have expected stories about Fed or Treasury
accounts to have surfaced. In my 21 years in the futures industry, I have
never heard any stories about such accounts coming out of the back office,
front office or any brokerage office. If such accounts existed, and they
would have to for the trades to clear, there would be some record or talk of
them, IMHO. Thus, I go on the record as being a doubter.
Regards,
John J. Lothian
Disclosure: Futures trading involves financial risk, lots of it!
Disclosure: John J. Lothian is the President of the Electronic Trading
Division of The Futures Group, Inc., an Introducing Broker.
In a message dated 04/19/2000 10:33:49 AM Central Daylight Time,
jptaylor@xxxxxxxxxxxxxxx writes:
<< Poser's rank opinions means jack, they are just that, opinions. He offers
no reasons or fact to back them up. His views on this prove to me just how
little this man knows. If the Fed ACTIVELY rigs the currency market,
practically weekly in convert with Japan, and raises the money supply at
every sign of market weakness, how/why is it so unbelievable to you that
they do not have a team buying futures to spark buy programs with our tax
dollars ?
Not only is it likely, it is a surety. Especially given their total
reckless monetary policy, destructive trade deficit, and massive government
debt. They know damn well that they better rig the markets to support them.
I do believe that eventually, the market will prove bigger than they are,
one can only hope that their reckless policies will not go unpunished.
James Taylor >>
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