The ENRON Scandal Message Board

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Non-Tech : The ENRON Scandal

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To: Karen Lawrence who wrote (384)	1/14/2002 5:40:51 PM
From: Baldur Fjvlnisson	Read Replies (1) of 5185

Karen actually Mr. Greenspan had his first Emergency Panic Fit[TM] Jan. 3rd 2001. The 90's boom was about money printing and incredibly loose monetary policy. Americans basically bought things they didn't need for money they didn't have. They soaked up the exports of the rest of the world. And handed IOU's to the world. Everything has a breaking point, households and businesses eventually have to deal with their balance sheets. At some point creditors get uneasy. Eventually overcapacity and debt get corrected. It's called a recession/depression. It's neither bad or good, just necessary. They created the mess with cheap credit, now they seem to think that what caused the disease will cure it. Incredibly naive. Winding down this mess shouldn't take more than a few years.

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