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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (117600)1/25/2009 4:08:24 PM
From: Knighty Tin1 Recommendation  Read Replies (1) of 132070
 
When I first started managing a bond fund, we had a 14% coupon on one Long bond, and it wasn't selling at much of a premium. Of course, I had a secret weapon that made buying them smart: Paul Volker was Fed Chairman. Ronnie Babe eventually fired him for being too unpolitical, but not before he brought rates down. Sadly, I don't see any Paul Volkers in this administration, yet.
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