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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (50250)5/20/2004 8:21:24 PM
From: Tommaso  Read Replies (1) of 74559
 
OK, good enough.

The incredible failure to stomp was Greenspan's refusal to raise margin rates from 50% back in 1999 or so. That would have damaged no one except foolish speculators and would have restored some sense of reality to finanacial markets.

Greenspan had the perfect tool and the correct assessment ("irrational exuberance"). His failure to act borders on the criminal.
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