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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: GraceZ who wrote (80527)3/14/2001 7:40:36 PM
From: Ilaine  Read Replies (1) of 436258
 
I am absolutely convinced that some day when Greenspan's personal memoirs are made public, we will find that he was baffled and bemused by the public perception that the Fed was trying to prop up the stock market, the LTCM bailout notwithstanding. But then, I am a contrarian. -g- The papers available on the Fed site written by Fed writers clearly delineate the problem of moral hazard, which is counterbalanced by the problem that so many people now hold equities, and the problem of inflation, and the problem of deflation, and the problem of government spending, and the problem of foreign exchange, yadda yadda yadda. Did you ever go to the circus and see the jugglers spinning the plates on poles, running from pole to pole to start it spinning again before the plate fell?

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