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To: SliderOnTheBlack who wrote (80605)	12/2/2000 4:44:30 PM
From: GaAs52	Read Replies (1) \| Respond to of 95453

Market Crash and Greenspan: Slider what do you think about the Greenspan's position on market crash? After "Black Monday" in October 87, the two month old Fed chairman has no doubt to the rescue the next day: " The Federal Reserve, consistent with the responsibilities as the nations's central banker, affirmed today its readiness to serve as a source of liquidity to support the economic and financial system". He was later quoted: " Anyone who knows anything about economic history knows that when you get a 500-point, 20 percent drop in the stock market, you will have a major problem in the economy. It wasn't a question of whether you would open up the taps or not open up the taps. It was merely how you would do it, not if" (From "The Greenspan Effect", Sicilia & Cruikshank)