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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever?? -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (226)	10/23/1999 4:19:00 PM
From: Thomas M.	Read Replies (1) \| Respond to of 309

The Richland Report P.O. Box 222, La Jolla, Calif. 92038 OCTOBER 29 ~ Greenspan . . . has chosen political expediency over sound economic and fiscal policy. By relentless gunning of the money supply while refusing to nudge up margin requirements, he exacerbated the flood of funds into the stock market while shedding crocodile tears over ''irrational exuberance'' thousands of Dow points ago. To mask the resultant politically desirable paper-asset stock-market inflation thus caused, he confessed manipulation of gold prices before the House Banking Committee on July 24, 1998: ''Central banks stand ready to lease gold in increasing quantities should the price rise.'' For all of his jawboning, irrational circumlocution and exuberant bafflegab, had the Fed chairman been really and truly serious about containing some of the toothpaste in the tube, he would have started earlier and used a funnel rather than a medicine dropper. Now, it's too late. The toothpaste is all over the bathroom floor, where it'll be easy to ''faw down and go boom.'' We'd rather not. -KENNEDY GAMMAGE