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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: robnhood who wrote (30976)10/24/2000 9:26:46 PM
From: patron_anejo_por_favor  Read Replies (1) of 436258
 
<< I think that the powers should have let that crash fullfill itself. We now have the result of intervention in
that episode to still reconcile itself.>>

Exactly. The crash definitely helped work the excesses out, much more quickly (and ultimately less painfully) than a drawn out bear might have, thus allowing the rapid post crash recovery we saw in '88-'90. One similarity was that much of the excess then as now was centered in high yield bonds (to finance LBO's then, to finance telco infrastructure now). Of course, that bubble was briefer less pervasive and allowed to die a quick, noisy and relatively painless death...
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