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Technology Stocks : How high will Microsoft fly?
MSFT 493.80-2.7%Nov 18 3:59 PM EST
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To: werefrog who wrote (54512)12/19/2000 4:31:37 PM
From: Frank Ellis Morris  Read Replies (2) of 74651
 
Technology Tanks after Fed Meets. Mr Greenspan would do the country well to resign.

Thanks for the no action Christmas present Mr. Greenspan. "The Fed's interest-rate-setting Federal Open Market Committee warned the economy was slowing so fast that there was a risk of a sharp downturn. The warning, interpreted as a signal that the central bank would slash interest rates in the future, was a disappointment to some investors who had bet that the U.S. central bank would take an even more
aggressive stance.

"I think the market had priced in some chance that they actually could cut rates today," said Scott Brown, chief economist at Raymond James And Associates. "But they sort of
met the markets halfway today. A January 31 rate cut is almost a done deal," he said.

It was my long stand that the reappointment of Allen Greenspan as head of the Federal reserve was a grave error. Today was the last straw of patience as once again hostility and aggression bias against the US economy was the norm. Today's action was not only infuriating and contemptible but downright despicable.

Mr Greenspan should be named Mr Redspan or the Grince who stole the spirit and confidence of the American investor. I would urge that all of us write to our leaders and voice our strong disapproval of the Feds unrelenting hostility. If anyone wants to write and tell me how wonderful Mr. Greenspan has been over the past gazillion years spare me the bullshit and take it somewhere else. I think most of us had enough of this hostility and disappointment and are completely Fed up with the Fed.

Frank
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