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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Wally Mastroly who wrote (11340)1/20/2000 4:23:00 PM
From: Justa Werkenstiff  Read Replies (2) of 15132
 
Wally: Re: "Although Greenspan is probably right about affecting mostly small investors, I still think it might send an overdue 'message to the market'."

Yes, a leader would realize the message that such an action would send regardless of the effect. If Greenspan is so concerned about the wealth effect, then he should take every available measure to minimize the imbalances that it creates in the economy. Grenspan is not thinking like a leader here and being a follower in this environment increases the chances that the economy will continue to roll right over him.
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