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Politics : Ask Michael Burke
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To: Sam Citron who wrote (89570)2/16/2001 4:21:02 PM
From: Freedom Fighter  Read Replies (3) of 132070
 
Sam,

>>But sometimes the risk of action is outweighed by the risk of inaction.<<

I believe there is a 3rd risk. The risk of over-reaction. And I think that's what Mike is talking about. No one is advocating letting the system crash and burn. I think those that are critical of Greenspan and Rubin are simply saying that they went way too far in their efforts to keep things humming. The net result was a huge bubble. A transfer of wealth from taxpayers to connected financial institutions. And a massive transfer of wealth from the middle class to brokers, investment bankers, options holding executives, etc...
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