Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (34046)	5/19/2000 10:12:00 PM
From: LLCF	Respond to of 42523

<Greenspan, not Voltaire, although Voltaire surely deserves a footnote > No, Voltaire and perhaps Ahha are 'seers', Greenspan a mere mortal, he'll get the footnote it least in the formers eyes. <VBG> DAK

To: Ilaine who wrote (34046)	5/19/2000 10:26:00 PM
From: Ken98	Read Replies (1) \| Respond to of 42523

<<a man whose place in history is assured, if we can only agree on what it is.>> Let me take a stab. History should view Greenspan as having engaged in conduct so reckless as to almost be criminal. By embarking on a "no financial risk-taker is too small to fail" expedition almost as soon as he took office in 1987 - he has created the ultimate financial tinderbox. Imagine Yellowstone National Park before the great conflagration. The Park Service had engaged in decades of fire suppression where every fire was extinguished no matter how small. Because of this there was a mass of undergrowth and dead trees resulting a fire that burned so hot that it rendered the soil sterile in places. If the Park Service had merely let the natural course of events take place there would have been numerous smaller fires (which in fact serve as the basis for much new growth) rather than a catastrophic blaze such as the one that occurred. By rescuing every financial risk-taker who sneezed, Greenspan has done the same thing as the Park Service. The greater the risk that was bailed out the more heroin the junkies needed to get high. Greenspan has allowed risk itself to become systemic. Credit card loans for day traders. Venture capital arms for money center banks and smokestack companies - the ultimate goal of which is not making profits from the sale of goods or services but merely from the sale of stock. Companies that rely on subsequent sales of stock to fund future operations instead of profits. The list could go on and on. And rather than recognizing his mistake and correcting it, Greenspan doubled his bet and embarked on his "I just want to be loved" tour. Coupon passes and New-Era Productivity Speeches for all. Doddering old fool. As to Voltaire, he surely deserves mention in one of those law review type footnotes (the kind with 20 or 30 case cites in one footnote) as one of the idiots that Greenspan fostered. It is truly ironic that the creator is destroyed by his own creation. Have a good weekend. Regards, Ken.