>Then again, sometimes speculation is distabilizing. I would say the won, >rupiah, baht, ruble, peso all fell victim to destabilizing speculators. The >Clinton administration is, just now, arranging a tax-financed, >$30b pay-off to keep destabilizing speculators from bringing down the real. > How much easier (and cheaper) to just control currency trading. > > Ellen Frank Aren't you the same Ellen Frank who had a sidebar in the Aug./Sept. "Dollars and Sense" in an article written by the NY manager for Camejo's Progressive Assets Management? I wasn't exactly sure where you stood, but I had the distinct impression that you think such outfits are some kind of scam. At least, that's what I got out of your comment that buying shares in a "progressive corporation" is not really an investment but merely an exchange of cash between the buyer and seller of a security. Speaking for myself, all those "progressive" outfits like PAM, Working Assets, the Calvert Fund belong on Herman Melville's riverboar Fidele in the great novel "The Confidence Man". Louis Proyect (http://www.panix.com/~lnp3/marxism.html)
