-Caveat Lector- From http://www.vdare.com/ltcm.htm }}>Begin When Genius Failed: The Rise and Fall of Long-Term Capital Management by Roger Lowenstein, Random House [Order from Amazon.com] http://www.amazon.com/exec/obidos/ASIN/037550317X/vdare Review by John Brimelow When the financial madness of the late 20th century America fades into history, the saga of Long-Term Capital Management could well emerge as the quintessential story. Roger Lowenstein's When Genius Failed is likely to be a classical primary authority. Lowenstein is a deeply professional writer, who reduces the arcane complexities of derivative dealings to lucid prose, and focuses on the crucial components in a confusing complex story. He brings the icy precision of the battlefield surgeon to the deafening chaos of Wall Street conflict. His chilling assessments of such phenomena as the appalling Larry Hillibrand, perhaps the key force at LTCM, a strangely-diminished Alan Greenspan, and the sinister force of Goldman Sachs, are likely to prove definitive. As a member of the Frank Veneroso/Le M�tropole Caf� circle, and consequently feeling in possession of some first-hand knowledge of the LTCM smash, I found this book stimulating and informative. So also would others with professional involvement. This is not a book to be ignored. End Excerpt<{{ A<>E<>R Forwarded as information only; no endorsement to be presumed + + + + + + + + + + + + + + + + + + + + + + + + + + + + In accordance with Title 17 U.S.C. section 107, this material is distributed without charge or profit to those who have expressed a prior interest in receiving this type of information for non-profit research and educational purposes only. + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Integrity has no need of rules. -Albert Camus (1913-1960) + + + + + + + + + + + + + + + + + + + + + + + + + + + + The only real voyage of discovery consists not in seeking new landscapes but in having new eyes. -Marcel Proust ~~~~~~~~~~~~~~~~~~~~ The libertarian therefore considers one of his prime educational tasks is to spread the demystification and desanctification of the State among its hapless subjects. His task is to demonstrate repeatedly and in depth that not only the emperor but even the "democratic" State has no clothes; that all governments subsist by exploitive rule over the public; and that such rule is the reverse of objective necessity. He strives to show that the existence of taxation and the State necessarily sets up a class division between the exploiting rulers and the exploited ruled. He seeks to show that the task of the court intellectuals who have always supported the State has ever been to weave mystification in order to induce the public to accept State rule and that these intellectuals obtain, in return, a share in the power and pelf extracted by the rulers from their deluded subjects. [[For a New Liberty: The Libertarian Manifesto, Murray N. Rothbard, Fox & Wilkes, 1973, 1978, p. 25]] <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html">Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
