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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 230.84

-0.7%

Dec 31 3:59 PM EST

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To: Dwight E. Karlsen who wrote (34403)	1/12/1999 12:03:00 AM
From: Gary Walker	Read Replies (1) of 164684

"A bubble can be easily punctured. But to incise it with a needle so that it subsides gradually is a task of no small delicacy. The real choice is between an immediate and deliberately engineered collapse and a more serious disaster later on. Someone would certainly be blamed for the ultimate collapse when it came. There's no question whatever as to who would be blamed should the boom be deliberately deflated...... Clearly the Federal Reserve was less interested in checking speculation than in detaching itself from responsibility for the speculation that was going on." --John Kenneth Galbraith...

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