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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: sandeep who wrote (62043)1/26/2001 11:46:59 AM
From: pater tenebrarum  Read Replies (3) of 436258
 
moral hazard is his middle name. he has all but admitted already that he's targeting the stock market.

sorry, but my view of the printer-in-chief is rather dim. he shouldn't have allowed the bubble to form in the first place, then he wouldn't have to worry every two years or so about bailing out his bankster buddies.

the raising of rates from 4,75% to 6,5% did essentially nothing to reign in the speculation, as he kept printing at warp speed. you only have to look at money supply charts, there never was any monetary tightening discernible. the financial sector saw a 30% balance sheet expansion in 2000.

the bubble simply got too big, a victim of exhaustion. the man who you say is 'only doing his job' has landed us in a potentially huge mess imo.
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