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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (66369)2/9/2001 2:15:36 PM
From: flatsville  Read Replies (1) of 436258
 
true, y2k was an obvious exception. but it's not just the Fed acting on its own. the entire WS money machine sprang to life, as it did in '98.
you know, the process described by Noland, that involves the GSEs, brokers, money market funds...the whole liquefication enchilada.

I understand what you're saying, but I'd argue it was Fed induced and inspired. I don't think the rest of those players could wipe their ass without a Fed example to follow.
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