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Pastimes : Alan Greenspan MUST GO: -- Ignore unavailable to you. Want to Upgrade?

To: Charles R who wrote (86)	5/25/2000 11:38:00 PM
From: Master (Hijacked)	Read Replies (1) \| Respond to of 494

Whether stock valuations are HIGH or whether they are LOW, a free market is self correcting. There is no need for Greenspan to interfere by implementing policies which directly attack the market. The DOT.COMS are a fine example of how a market corrects itself. Last year there was a euphoria over Net stocks. The market caps for some of these companies, some which employed no more than a dozen employees, was in the billions of dollars. After the initial euphoria, investors soon realized that many of these companies were incredibly overpriced and as such the prices quickly began to drop. There was no need for the Feds to take action. The market took care of the problem itself. On the other hand, Greenspan's broad attack on the market with interest rate hikes and "market exhuberence" speeches resulted in all stocks feeling the pain....the good as well as the bad, and all long-term investors getting hurt. Vince