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Wasn't in that article but another article from responsible business
journalist suggested that rather than outright transactions, the houses
would be reimbursed for any losses through other transactions and treasury
business. FWIW, a small firm would be less likely to be a party to such
transactions than one of the majors which does a great deal of debt and
currency business with the government. Of course, a small firm could be the
stalking horse for a major.
There are many who reject the idea of intervention but I do not. Aside from
the fact that this country is pretty well run by the money interests, a
government which is so activist on the monetary front would not blink at
indirect intervention in the equity markets.
Earl
----- Original Message -----
From: "Mike Brett" <mbrett@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, October 11, 2001 9:34 AM
Subject: Re: [RT] General - pension fund buy programs
The article I posted states that the working group is comprised of Fed
officials as well as officials of the SEC and NYSE. I suppose Hull could
have been acting at their behest but I wouldn't know for sure.
----- Original Message -----
From: Jacobson, Alex
To: 'realtraders@xxxxxxxxxxxxxxx'
Sent: Thursday, October 11, 2001 11:16 AM
Subject: RE: [RT] General - pension fund buy programs
In 1987 that wasn't the fed. It was Blair Hull of Hull trading. Even
though there are always rumors about Fed action in equities that would be
an
illegal act. Section 20 banks. It has been more liberalized, but the
Fed.
could not be in on the equity side.
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