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Strategies & Market Trends : Asia Forum

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To: Stitch who wrote (7212)	10/20/1998 8:57:00 AM
From: Cynic 2005	Read Replies (1) of 9980

Stitch, my apologies for not getting back to you earlier than this. Re. Greenspan, here is a link to his views (expressed in the 60's) on the monetary policies of the late 20's which, he too thinks, caused Great Depression. fame.org I don't know if I follow Fleckenstein. My view is not too different from Fleckenstein. He often quotes Greeny from his past. If anything, they confirm my assertion that Greenspan checks the wind before he makes a statement. I do not claim to be smarter than he is. But, often times the best ideas can be the simplest. I do not think he can control all the hot money around the world. But, could have certainly controlled the leverage in financial markets. Remember his July 97 address to the congress in which he said "margin debt" is not a problem. Well, what is the problem at LTCM then? It didn't happen 'after' his remarks, did it? God knows how many more such skeletons are in the closets.

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