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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 445.60

-10.1%

Jan 30 4:00 PM EST

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To: elmatador who wrote (51429)	6/17/2009 3:36:12 AM
From: Maurice Winn	2 Recommendations Read Replies (2) of 219928

ElM, there were already too many regulations. That was the problem. Fannie Mae and Freddie Mac were government regulated entities - therein lay the problem. People depended on the government to bail them out and were happy to take silly risks and in the case of bonus payments for bad work, the bonus was paid before the chickens came home to roost. It's silly to pay bonuses before the chickens have hatched and before they have come home to roost. Managers could take big risks, make big temporary profits, get paid as though they were financial relativity theory geniuses, then be well clear by the time their dopey bets went belly up. Our great and estimable idol did a reasonable job [Alan Greenspan KBE]. It's not his fault irrational exuberance takes hold of the herd from time to time. I would have lowered interest rates faster in Y2K and raised them faster when the Biotelecosmictechdot.com bust was obviously not going into cascading free fall and before the housing frenzy went nuts. But that's a minor detail. Mqurice

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