hawks win

Carl Remick cremick at rlmnet.com
Fri Oct 2 06:27:55 PDT 1998


Re Peter's: "The House Banking Committee chairman Rep. Jim Leach, R-Iowa, said the Fed-led rescue raised 'troubling questions of financial concentration and antitrust.' And 'The bailout may involve a tendency toward concentration that the Justice Department has an obligation to review."'

The media were burbling this a.m. about the Banking Committee's lack of customary deference to the Great Greenspan. This behavior from a group not renowned for its Profiles in Courage surely validates the idea that the jig is up for free-market economics. My favorite remark from the G.G. yesterday was: "Indeed, most hedge funds are only a short step from cyberspace. Any direct U.S. regulations restricting their flexibility will doubtless induce the more aggressive funds to emigrate from under our jurisdiction."

Doubtless. You can't grab ahold of those traders, they're only pixels. John Meriwether as Max Headroom -- I love it!

Carl Remick



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