>This was on page B2 of the New York Times today. In a sane society, wouldn't
>this make it to the front page? I like the third paragraph.
>
>________________
>
>January 29, 1999
>
>Report Finds Banks Failed to Oversee Big Hedge Fund
>
>By TIMOTHY L. O'BRIEN
>
>NEW YORK -- A handful of the world's largest commercial and investment banks
>failed to adequately oversee lending and trading activities with hedge-fund
>giant Long-Term Capital Management, a regulatory study has found.
Summaries, with links to PDF versions of the full reports, are on the Bank for International Settlements website, <http://www.bis.org/publ/bcbs45.htm> and <http://www.bis.org/publ/bcbs46.htm>.
European central bankers like frothy stock markets a lot less than American ones; I wonder what they tell Greenspan at the monthly BIS meetings.
Doug