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: Mama Bear who wrote (156)	3/4/1999 5:01:00 PM
From: Cynic 2005	Read Replies (1) of 309

MamaBear, actually a lot of wise people think that Greenspan and Rubin may have indirectly contributed to that 'calamity.' These guys have been interfering with the free markets for a long time while at the same time preaching the rest of the world the virtues of the free-market. When China told the banks to take a hike when their largest trust company went bust, Wall Street was shell-shocked that Chinese Govt. did not bail them out. It goes like this with Greeny and co. - each time some irresponsible market player is about to blow-up, these guys are first in line to bail them out. S&L, Mexican peso crisis, LTCM and not to mention covert operations to prop the financial markets. If the US banks were allowed to take the hit when Mexico blew-up in 94, easy money wouldn't have taken such a deep root in to the world financial markets. Now that the markets have grown so big and the possible collapse is threatening the very health of the economy - these guys have been trying desperately to keep the bubble inflated. To quote Jim Grant, Greenspan is in to bubble management now.

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