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Strategies & Market Trends : Drillbits & Bottlerockets

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To: Diana who wrote (11551)	5/16/2001 9:17:44 AM
From: Augustus Gloop	Read Replies (1) of 15481

<<We have a tendency in this country to react to disasters rather than act on potential problems. I'd say we have all the reason in the world to ACT on this situation. I'm sick and tired of dealing with issues only when they explode in our face.>> Just so my post doesn't get taken out of context here was the complete thought. The article was interesting yet I think maybe a little harsh. True, two of the largest downfalls (market drops) happened under his watch and yes I think there were some serious mistakes made. But I would stop short of saying "[Greenspan] is a national disgrace and the most disastrous Fed Chairman in U. S. history." I want to believe that much like we investors the fed just made some bad calls. The problem with my line of thinking is when the fed makes a bad call our fate as investors is sealed. That said I really want to believe he was doing what he thought best for the country and its economy. Give me another day or so though as I'm sure I'll be back in "blame the fed mode."

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