USA- 1998 : THE CRACK OF THE LTCM MEGA-FUND WAS ABOUT TO TURN THE ENTIRE CAPITAL SYSTEM!!
# THE 23 September 1998 the President of the FED (Federal Bank) American - in spite of the free market – ha di fatto espropriato l’Hedge Fund Ltcm, a stock market mega-hedge fund managed by “best brains in finance”: THE 90 % of the capital – including 100 milioni di dollari della Banca d’Italia – has been “sold” For 1 dollar a 14 of the world's leading banks, e queste ultime sono state obbligate a sborsare all’istante altri 6.000 miliardi di lire per cercare di mettere una pezza al più colossale “hole” of history. “If the Fed hadn't intervened… there would be… a global financial crisis, with repercussions that are difficult to assess “(The sun 24 hours,5-1O-’98). The Milan Stock Exchange in a few days had fallen by 40 %!
Only with the crack dell’ Ltcm the Merril Lynch (first US bank) he lost 1.400 Millions of dollars, UBS Switzerland (prima banca d’Europa) 770 ( = 1.300 billion lire, with the resignation of president Ciavalletta), huge losses for all the others (Dresdner e Deutche Bank, Paribas, l’inglese Barclays, the Japanese Sumitomo, l’americana Citycorp,etc..)
The ladies in those weeks kept silent about the PENSION FUNDS,especially Americans and British: non è stato diffuso nessun dato preciso per non spaventare i lavoratori. Lo sconquasso è stato sicuramente pazzesco, anche perché “the borders between banks, financial, funds and insurance are now unstable” (statement by Soros king of speculators, a llSole24ore,30-10-’98) Anche questa volta a Lorsignori è andata bene : the massive interventions of the central banks of the major capitalist countries and the “medicine” of the war made the big stock market restart and profits. Until the next crash.
L’ Ltcm è saltato per la crisi del Giappone e -soprattutto- of Russia, not foreseen by mathematical systems ” computerized by financial brains “of stellar reputation” who managed the mega-fund.
cobasalfaromeo,28-5-99 http://spazioinwind.libero.it/cobas/finanzaloro/crackltcm.htm