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Strategies & Market Trends : Angels of Alchemy

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To: wannaBrich who wrote (23799)	12/20/2000 7:48:16 PM
From: Lazarus_Long	Read Replies (2) of 24256

I would say that knowledgeable and experienced investors have always cared what the Fed did for the past 90 years. And they were paying attention before the irrational exuberance speech. It has been understood for decades that the Fed did have the power to determine what happened to their portfolios. And the Fed isn't so concerned about investors. They are one of many economic groups that have to be considered. The Fed considers that it's primary responsibility is to keep inflation at a low level and at the same time to keep the economy out of recession. Given that, Greenspan gets at least an A-. There was a problem with recession in the early 90's, but other than that he's done fine. It is believed that twice- -in 1987 and after the LTCM problem- -the Fed under his management probably prevented a recession. And it's not the Feds responsibility to keep you from getting margin calls from your broker; that's your responsibility. The sooner that you accept that and add it to your list of responsibilities, the sooner you'll get well.

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