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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (8702)	9/18/1999 12:25:00 AM
From: David Eddy	Read Replies (1) \| Respond to of 9818

Ron - ctually David... I was under the belief that the "hard money" policies of the Federal Reserve, in response to the '29 crash, created such a credit crunch that smaller banks no longer had the liquidity available to take on risk and underwrite loans. I belive that's correct. Lacking real facts, the Fed tightened up & pushed folks over the edge which just compounded into a downward spiral. Hopefully they've learned a bit in the past 70 years. - David