Re: just great und das passt dazu

verfasst von Oldy, 04.05.2000, 23:40

Also sprach Greenspan:

>>> Greenspan Has Markets Guessing on Rates

WASHINGTON (Reuters) - Less than two weeks ahead of a pivotal U.S.
interest rate meeting, Federal Reserve Chairman Alan Greenspan on
Thursday sidestepped the thorny issue of monetary policy and left markets
guessing about his next move.

Amid growing market speculation that the Fed may opt for a larger-than-usual
rate rise designed to force the runaway U.S. expansion back on track,
Greenspan stayed clear of discussing the economy when he addressed a
banking conference in Chicago.

Sticking closely to the topic at hand, he warned financial institutions that
improvements in risk management tools such as derivatives should not lull
them into complacency about the inherent risks of their business.

``There are undoubtedly legitimate concerns and avenues for significant
improvement of risk management practices,'' he said in his speech.

In his Chicago speech, Greenspan said the development of new products and
services that help banks manage risks was a ``net benefit'' for the economy.
But he warned that many of those instruments had not been tested in times
of heightened stress.

``During the recent phenomenal growth of the derivatives market, no
significant downturn has occurred in the overall economy to test the resilience
of derivatives markets and participants' tools for managing risks,'' he said.

``The possibility that market participants are developing a degree of
complacency or a feeling that technology has inoculated them against market
turbulence is admittedly disquieting. Such complacency is not justified,'' he
added.

Greenspan also cautioned market participants, and in particular private
investors, not to rely on the Fed to bail them out in the event of a bank failure.

``There are many that hold the misperception that some American financial
institutions are too big to fail,'' he said.

While the Fed and other supervisors would try to ensure an ''orderly
liquidation'' of a failed institution, Greenspan warned that ``shareholders would
not be protected, and I would envision appropriate discounts or 'haircuts' for
other than federally-insured liabilities''. <<<


Was sagt er aber eigentlich damit? Er sagt mit vielen Worten, was er mit einem Satz sagen könnte: „Zieht euch warm an, die Fed kann und will die Börse nicht mehr vor sich selber retten.“
Anscheinend rechnet auch er zumindest mit einem Kurseinbruch oder gar einer Recession und die Shareholders, die dabei nicht geschützt werden können sind auch in den pension funds und das trifft auch den Oldy


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gesamter Thread:

• Ich stelle mich zwischen Euch! NickLeeson, deine Frage von gestern! mT - Schlangenfuchs, 04.05.2000, 23:09
  • just great - JüKü, 04.05.2000, 23:31
    • Re: just great und das passt dazu - Oldy, 04.05.2000, 23:40
      • Greenspan wir immer deutlicher und massiver... - JüKü, 04.05.2000, 23:50
        • Re: Der Schock der Einsicht kommt, wenn. - Baldur der Ketzer, 05.05.2000, 00:16
          • Re: Der Schock der Einsicht kommt, wenn. - Black Elk, 05.05.2000, 09:37
    • Re: just great - Schlangenfuchs, 07.05.2000, 10:44
  • vielen Dank für die ausführliche Antwort! mT - NickLeesong, 06.05.2000, 01:17
    • US-Familien sind Geiseln der Aktienblase - Das Orakel, 06.05.2000, 01:36
    • Ideen dazu - Schlangenfuchs, 07.05.2000, 10:37