Greenspan, Rubin & Co - the Most Irresponsible Team Ever?? Message Board

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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever??

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To: Tom M who wrote (32)	1/15/1999 7:22:00 PM
From: Bonnie Bear	Read Replies (2) of 309

Lots of things are being tested here. It is extraordinary to watch the very foundations of the US legal process being tested at once in the impeachment proceedings and the "speculative bubble". If Clinton is not removed from office by the letter of the law and due process, I shall take it as a sign that we are in a Brave New World where the SEC oversight of our financial markets are similarly corrupted. The slaughter of small company stock is extraordinary. CBS Marketwatch is now claiming that a flood of money from the Euro is more bad new for small stocks, that Europe will buy megacaps. You know the guy in the street is much more likely to have his 401K match in a Russell value stock than a Dow stock. He/she isn't profiting from this market. The folks that have the most to lose if the market comes crashing down is 1) Fidelity 2) The U.S. IRS 3) Clinton 4) Goldman Sachs 5) about 10 CEOS that own about a trillion dollars of stock Interesting list, huh? They all fit in a small room together (leave a window open 'cuz they smell bad!) There's a law that says that pension plans and 401Ks can swap stocks in the plan...the dumping ground for the overpriced stock is the 401K plan. One thing I do notice, tho...the things that I instinctively consider decent investments for a retirement portfolio (hedge against future inflation) all look pretty cheap here by any measure I can use in my adult life...health care REITs, natural gas and electric utilities, small company stock, a bit of emerging stock, convertibles and bonds. Farmland. And precious metals, still the only currency respected in many parts of the world. Are the big guys driving the life out this stuff so they can get it on the cheap? Hmm...

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