calm

[John K. Taber]

Doug Henwood wrote:
> 
> "Chernomyrdin has the stature and the ability to induce calm."
> 
> - Constance Hunter, portfolio manager, The Firebird Fund, which is entirely
> devoted to Russian investments, on CNBC, August 28, 1998, 12:27 PM.

Somebody on this list mentioned (Doug?) that the Russian meltdown
should not have much effect on the US because the Russian economy
is so small, and disconnected from the rest of the world. So sayeth
the NY Times too.

But a couple of days ago, the NY Times had another article saying 
that there are a lot of derivatives on top of Russian securities.
No hard and fast figures, but the fall of the ruble means selling
in a hurry.

Doug, do you suppose our crazy bastards have bet the economy on the 
ruble?