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What do you think they did with the unlimited
credit when they were bankrupt? They went out and bought futures and stock
to support the market and increase the value of their
portfolios.
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Dan
Goncharoff
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, November 18, 2003 8:43
AM
Subject: Re: [RT] Re: Fed supporting
market
Why is the Fed providing liquidity at a time of high risk, when
free markets may otherwise no longer function properly in the short term, be
worse than a branch of the government making an active decision to buy
futures. Providing liquidity allows the market to function; buying futures
favors one side of the market over the other. In my view, buying futures is as
bad as selling futures -- it means the government is taking
sides.Ensuring the proper functioning of the market is one of the
stated functions of the financial markets is one of the purposes of the
Fed.RegardsDanGIra wrote:
I thought that it was aimed at government
intervention in the markets. It may not be the same as buying futures,
it is worse.
<BLOCKQUOTE
>
<DIV
>-----
Original Message -----
<DIV
>From:
Dan
Goncharoff
<DIV
>To:
<A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
<DIV
>Sent:
Tuesday, November 18, 2003 7:18 AM
<DIV
>Subject:
Re: [RT] Re: Fed supporting market
Providing liquidity to the markets is not the same as
buying futures, which is the charge leveled in the original
message.RegardsDanGIra wrote:
The fact is it did happen in 1987.
The fed told the banks to give unlimited credit.
<BLOCKQUOTE
>
<DIV
>-----
Original Message -----
<DIV
>From:
Dan
Goncharoff
<DIV
>To:
<A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
<DIV
>Sent:
Tuesday, November 18, 2003 5:21 AM
<DIV
>Subject:
Re: [RT] Re: Fed supporting market
Have you ever seen it claimed in a respected source? If
so, I would be interested in the reference, because I have long sought
such a mention in the established press, without success. AFAIK, it is
just foolish gossip.RegardsDanGBobsKC wrote:
<BLOCKQUOTE
cite=""
type="cite">It is commonly accepted knowledge in the business world and while I most
certainly have not personally observed the practice, I have no recall of
the White House ever denying it, either. If the market tanks, so does
Bush. Do you not believe that he has the means to prevent this?
Bob
At 02:57 PM 11/17/2003 -0800, you wrote:
This is a strong statement, variations of which I've heard
many times with no factual support. Is there any support here?
regards,
tbr
> the Fed has shown in the past how it can hold up
markets via futures purchases
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