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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever??
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To: Giordano Bruno who wrote (148)2/24/1999 8:53:00 PM
From: Don Westermeyer  Read Replies (1) of 309
 
Here's what Greenspan said in English:

(From Fleckenstein's Market Rap today stocksite.com)

What Greenspan really said... I think the best thing to do is to quote what Joanie said in her morning fax about "What do we think that Greenspan meant?" She offers up a somewhat tongue-and-cheek but very accurate description of what he was saying:

"There are more balls in the air right now than I can shake a stick at. Funny, but as the rest of the world is having a rough go of it, things are hot as a pistol right here at home. Since I haven't a clue as to which way this is going to work out, the Fed is ready to go with the flow by either raising or lowering rates at a moment's notice, that's how fast the game is being played. As for last year's round of easings in response to the big mess that LTCM delivered to my doorstep, I don't know if I overdid it or not. Like I said, we could go either way at this point. And about that stock market, your guess is as good as mine. Hey, I'm not a mind reader. I'll let you know if it was a bubble, if and when it bursts, and not a second before."

So there you have it. I think that's a pretty good rendition of the facts and provides a little levity besides.
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