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Politics : Ask Michael Burke

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To: Cynic 2005 who wrote (97416)	9/4/2002 9:13:59 AM
From: Freedom Fighter	Read Replies (1) of 132070

>"The notion that a well-timed incremental tightening could have been calibrated to prevent the late 1990s bubble is almost surely an illusion," Greenspan said.< He certainly had a lot of success with well timed interest rate cuts when the intention was to bail his friends out just prior to options expiration. He knew it was a bubble all along. He could have done something about it. He chose not to because he was under pressure from Washington, Wall St. and Main Street not to. Clinton wanted credit for a booming economy that has since collapsed from its own excesses. Wall St wasn't done raping and pillaging the public yet. Main Street is just dumb.

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