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Politics : Ask Michael Burke

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To: Don Lloyd who wrote (44853)	1/28/1999 5:07:00 PM
From: Tommaso	Read Replies (1) of 132070

It appears to me that Greenspan's imagination is running away with him. He ended by saying that it was "good for our system." When I first read the BBC account of what he said, I agreed with your point of view, but when I looked more carefully, I saw that his unwillingness to say anything bad about the great rise in the Internet stocks could be construed as a tacit endorsement as speculation as just part of what was "good for our system." Here is the CBS version, which quotes things somewhat out of order: cbs.marketwatch.com I am looking forward to seeing the entire text somewhere or other. In his desire not to say anything that could sound discouraging, though, he has seemed to endorse gambling. Bankers and investment advisors were quite angry over the famous exuberance remark, considering that equity levels were none of his business. Now anything he says has to have a Delphic Oracle ambiguity to it.

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