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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Box-By-The-Riviera™ who wrote (80642)3/14/2001 9:05:59 PM
From: Haim R. Branisteanu  Read Replies (4) of 436258
 
Joel, they interviewed me today for a WSJ article.

I e-mailed them my Robber Barons piece from last April and the reaction to my CRISCO earnings analysis from last August.

In a nutshell my argument was that the FED not preemptive and generated the bubble for political reasons. Also stated that politicians decided how the BLS accounts for inflation.

Further I said that monetary policy should not be used to prop the financial markets and that besides interest rates, there are other restrictive tools to stop wild speculation such as higher margin requirements for trading by hedge funds and brokerage houses which were not enacted at all by the present FED.

I also told them that the lesson from the LTCM fiasco and it's interpretation by the FED was to be arrogant ....... as the FED can cure and rule all ills.

Wonder if they will publish it, I am waiting for a response.

Haim
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