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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.01+1.6%Nov 12 4:00 PM EST
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To: benwood who wrote (58512)12/1/2009 2:56:13 PM
From: elmatador1 Recommendation  Read Replies (1) of 217732
 
zero signs? Volcker is still here although not FED chairman neither sending interest rates to stratosphere like he did 1980 and sent us crashing.

Q What role did monetary policy, easy credit, play in all of this?

A The Greenspan policy was part of the problem. If Paul Volcker had been chairman of the U.S. Federal Reserve would this have happened? Not likely. He would have put interest rates up in 1996 when Greenspan warned about "irrational exuberance" and the tech bubble. Mr. Volcker would have let Long Term Capital Management go bust, raised interest rates and we never would have been in this current situation.
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