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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever??
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To: Giordano Bruno who wrote (99)1/21/1999 10:54:00 PM
From: Jags   of 309
 
AG took action too fast last year. He did not want the markets to
go belly up and paniced IMO. The resultant 3 interest rate cuts
gave the wrong signal to the crowd who just piled on. And we end
up having an even bigger problem than last july.

If the current slide gets wild, I hope he doesnt interfere again.
Its a cycle and has to have its course of boom and bust. More
intervention will only make it bigger and worse.

Then there is a camp which now talks of whats in a P/E? Its just
a number. Just bcos historically P/E was supposed to be 'x' does
not mean that it cannot rest at a higher value 'y'. They have
forgotten what dividends are.

Jags
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