-Caveat Lector- Hello List: Do your bit for the good ole USA. Buy some stocks at an artificially high price on Monday so the Big Boys can scam you once again. My advice: Grab your wallet and head for the hills. flw REGULATORS PLAN TO PROP UP MARTS By JESSICA SOMMAR -------------------------------------------------------------------------------- September 15, 2001 -- Wall Streeters, along with the SEC, are planning to confound the experts and foil a predicted stock market sell-off when stock trading resumes on Monday. Although market analysts say that historically a crisis like the World Trade Center suicide bombing should shatter confidence and plunge stocks lower, market pros said yesterday they were scheming to give a rousing show of support for the American economy. "It's the one individual act of defiance we can do to show this [crisis] isn't going to stop us," growled one market veteran. Plans to end the buyers' strike that has held stocks in a bear-like grip for the last two months include inhibiting short selling as well as pulling money off the sidelines and investing when stocks open for their first trading session since the Twin Tower tragedy leveled the Wall Street landmarks. And in an unprecedented show of support for markets, Wall Street watchdogs have used their emergency powers for the first time, softening restrictions temporarily to shore up stock prices if the expected sell-off begins. It's a big move by the new Securities and Exchange Commission chief Harvey Pitt and his most important action since becoming the top Wall Street cop last month. Pitt's goal is to ensure orderly markets during this time of crisis. In an SEC release yesterday, Pitt outlined the relaxed rules on net capital for securities firms and allowing those firms and corporations to buy shares if a stock is overwhelmed by sell orders. Share buybacks, as this is known, is heavily restricted by amount and even by the timing for such purchasing under market manipulation regulations. But Pitt let down the walls this week, allowing for unlimited share buyback, and opened a hotline for brokers and companies who have questions about proper trading practices in the wake of the new easing. "The rule book is in the drawer right now because we've never had this kind of crisis," said JP Morgan Senior Economist James Glassman, applauding the SEC's efforts to keep markets stable. Pitt also hinted strongly that he will seek to restrict short selling - where an investor capitalizes on stocks falling in price. But despite these emergency and unprecedented efforts many experts still see a black cloud on the horizon. Economic news yesterday showed an economy still teetering on the edge of recession. <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
