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To: Frodo Baxter who wrote (6567)6/11/1999 8:14:00 AM
From: Sam  Read Replies (1) | Respond to of 9256
 
OT
LK,
Thanks for linking Greenspan's talk. I enjoyed reading it.

"Note the subtle digs at Clinton."
I think you were reading into it. He never mentions Clinton as such, it could just as easily have been suble digs at a Wall Street (even LTCM) or business school mentality in general. But it is hardly new. He idealizes the 19th century if he believes that somehow there was a simple trust in doing business back then. People were cheating and being cheated constantly. From saloon keepers robbing their customers of all of their money to alleged medicine that didn't work to diary farmers and milk distributors "expanding" their milk by adding such delicacies as ammonia, water and chalk to milk being sent to cities, there was constant lying and swindling.

I think he meant his final words, though, and think that he is an honorable old idealist. There are many today along with the others as there were in past generations.