[Wphile]

dollar repo? I'm not sure what this is but if it's the strong dollar policy that is waning, I'm not totally opposed to it. For those of us involved in exports, having a weaker dollar isn't necessarily a bad thing.

And just for edification, just who is Wall Street? Are you talking about traders, investment bankers or brokerages? Frankly, I think the likes of GoldmanSachs et al are some of the biggest crooks on Wall Street, Rubin certainly among them.

[nullsumme]

Ok, there's a simplified explaination of why Wall Street doesn't like O'Neil.

Forget about weak/strong dollar argument, I sure you've heard currency traders, currency arbitrageurs are what we called "market catalyst" for stock market, Forex markets are now engaged in real-time cross-arbitrage trading, which means predictability is the single most important factor for cross-arbitrage deals to act as stability force for an un-stable stock market.

O'Neil's last-minute actions(unpredictability) and his lack of coherent dollar policy are like mortal enemy to forex arbitrageurs, especially for those small-spread currency repo market.

I can go on for hours on this, but I don't think this is the topic that will appeal to too many of you here, LOL.