As the tail wags -- 10:00 MCDONOUGH: MARKETS MIGHT HAVE CEASED TO FUNCTION IF LONG-TERM CAP HAD FAILED. 10:00 GREENSPAN: BANNING HEDGE FUNDS WOULDN'T WORK, WOULD COST TOO MUCH. 10:00 GREENSPAN, MCDONOUGH: DEFEND FED ROLE IN LONG-TERM CAP RESCUE. 10:00 GREENSPAN: SAW 'SUBSTANTIAL DAMAGE' IF LTCM HAD FAILED. 10:00 GREENSPAN: FAILURE OF LTCM WOULD HAVE RISKED US ECONOMY. 10:00 GREENSPAN: PAINTS DIRE PICTURE IF LTCM HAD FAILED. Regards, Tom Walker ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ #408 1035 Pacific St. Vancouver, B.C. V6E 4G7 [EMAIL PROTECTED] (604) 669-3286 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ The TimeWork Web: http://www.vcn.bc.ca/timework/
