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Politics : Ask Michael Burke
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To: per strandberg who wrote (57504)4/26/1999 8:07:00 PM
From: Freedom Fighter  Read Replies (3) of 132070
 
Per S.

>>Imagine what would happen if there was a market crash!<<

It used to be that a only handful of banks were too big to fail. "Easy Al" or should I call him "Crazy Al" is managing to maneuver the entire country into a position where the market cannot fail without potentially serious consequences. Perhaps many Americans are exercising poor judgment out of greed and ignorance, but it couldn't have happened to this degree with the fuel of easy credit and the belief that the Fed itself has natured that it will come to the rescue if there's a problem. It is almost entirely AG's and reckless promotion from a few on Wall St that's to blame for this mess.

Yet many of us realize that he will eventually run out bullets when he tries to prevent future corrections of the excesses like he did last fall. Either that or the easy money will spill over into other bubble bursting conditions.

The key question for us all is just how irresponsible is he.

Will he keep feeding it or at some point will he come to the conclusion that it's getting too dangerous and try to gently burst it.
He has shown no inclination to do the latter despite comments that strongly suggest he understands the situation.

In the mean time more and more foolish investment decisions will be made that you and I will pay for either in taxpayer bailouts, lost jobs, or who knows what else.

Good Luck,

WC
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