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Technology Stocks : Intel Corporation (INTC)
INTC 40.56+10.2%Nov 28 9:30 AM EST
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To: John F. Dowd who wrote (166835)6/22/2002 2:26:59 PM
From: Road Walker  Read Replies (2) of 186894
 
John,

I'm in a small minority that thinks Greenspan did a good job. I disagreed with the last rate hike, and thought he should have cut rates one month sooner, but that a boom bust cycle doesn't make. The fact is that businesses had built capacity and inventory to levels that assumed far too much growth, and that has always been the point where the business cycle teaches everyone a lesson.

Greenspan is an easy target to blame, or to give credit to, as they did when things were going well. But his influence is limited. And Greenspan is "liberal" compared with some of the Chairman we've had in the past. In fact history may judge him as too liberal, allowing the boom that created the subsequent bust.

John
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