Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (85321)	1/25/2001 12:06:04 PM
From: cnyndwllr	Read Replies (2) of 95453

SliderOnTheBlack RE: <<Greenspan will go down in history as the most reckless & "used" Fed Head in history.... Rubin was the pimp & Greenspan the whore for the investment bankers who just raped a generation of investors here via this bubble. Derivatie abuse, the Plunge Protection Team, the ESF manipulation and the Greenspan Put; will all be decried for generations to come in business schools as the evil they are... There will ultimately be hell to pay... >> Slider, that doesn't sound like a guy celebrating his winnings in the market. The main point, however, is that it is not the function of the fed chairman to protect investors. There are a great many people who have more jobs and better jobs than they would have had without Greenspan. I think he has done a good job of creating prosperity in this country by smoothing out the wrinkles, attracting investment funds from overseas, modeling economic policy for other countries and creating confidence in the continued recovery. Will it work forever? Will it always work? No, but it's a remarkable feat to have been able to tune the US and world economy for all of those years. A great many people, including investors and low income workers, have benefited. It is hard to imagine any careful investor who entered the market over the time period of his watch who would not have made a substantial gain. If you want to assign blame for the transfer of money from individual investors to investment bankers, why don't you blame the laws that allow them to engage in all of the practices that borderline on the unethical and that give them tremendous advantages over individual investors? All of us should be constantly vigilant to protect against this. I do believe that we are in for a correction sooner or later. In the meantime, there is more money to be made. I do tend to agree with much of what you post in terms of the dangerous possibilities for a substantial correction which I anticipate will last for a probable period of months or a year. That's one reason why I like the "safer" investments in oil service for intermediate term investments. I did not repost the "defrocked" portion of your post because it is not a pretty picture. Greenspan as a whore was bad enough. Get help! (gg) Ed PS I'm leaving until next Monday afternoon. I would appreciate it if y'all would buy lots of rdc and keg at higher prices while I'm gone.

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