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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 175.84

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To: Maurice Winn who wrote (38022)	8/15/1999 6:21:00 PM
From: Art Bechhoefer	Read Replies (1) of 152472

Maurice, I don't want to overload the thread or get too far off the main subject, but briefly, regulators in the U.S. are SUPPOSED to be independent (by law). The fact that many times they aren't simply speaks to the dysfunctional side of regulation. If you regularly read journals such as The Economist, you will find that they recognize the value of independent regulators. They have often commented that the U.S. with its Federal Reserve, comes closest to an independently managed central bank (independent of political influence), and that, in The Economist's view, is a major reason why inflation in the U.S. remains low, particularly in comparison with other countries whose central banks are tied more closely to political parties. As for my initial argument, the only thing I can say is that, while unpopular, a few more economists are beginning to express similar views.

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