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To: MileHigh who wrote (27992)	8/28/1999 10:29:00 PM
From: Dan3	Read Replies (1) \| Respond to of 93625

Re: his obsession with the stock market is getting old Greenspan had to battle conservative members of the Fed who tried to keep rates high, and later, after he had succeeded in lowering rates, kept fighting off attempts to raise them much higher. He's generally considered to be a radical for maintaining such low rates in the face of high GDP growth and low unemployment. Japan's economy continues to stagger from the aftereffects of a market bubble that burst almost a decade ago. Although many of Japan's problems are structural, the collapse of the stock and property market bubble was a major factor in halting economic growth in Japan. I don't think it's fair to accuse Greenspan of being unreasonable for being determined to prevent the same from happening here. Dan