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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (12221)	3/3/2000 11:52:00 PM
From: Hank Stamper	Respond to of 15132

"The fool who persists in his folly shall become wise." Blake The problem, however, with environments entirely lacking in regulation is that extreme distortions may lead to extreme social dislocations. The fools who mortgaged--i.e., margined--their houses to buy tulips got wise, all right. In their wisdom, they also got to live through a long term and very deep depression. As usual, I think, the solution to this debate lies somewhere in the muddled middle-ground. We need some degree of regulation and some degree of freedom to be fools. (Oh Lord! I just realised that some may think I am obliquely referring to those insufferable Gardner brothers. I am NOT. Not!) Ciao, David Todtman